Claritev Corporation
- Open
- 38.86
- Day high
- 40.29
- Day low
- 36.99
- Prev close
- 39.35
- Volume
- 104K
- Mkt cap
- $682M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -2.3
- P/S
- 0.7
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$369K over the last 3 months (3 open-market buys, 2 sales)
- 🏛Institutions reducing (13F)
Claritev Corporation (CTEV) is a Healthcare company listed on NYSE. The stock is down 42% over the past year. Over the trailing 3 months, insiders filed 3 open-market buys and 2 sales (SEC Form 4).
Claritev Corporation (CTEV) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CTEV earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 7, 2026 | $-4.12 | $-3.49 | +15.3% | $257M | +5.2% |
| May 7, 2026 | $-3.81 | $-4.41 | -15.7% | $245M | +3.5% |
| Feb 23, 2026 | $0.85 | $-4.90 | -676.7% | $247M | +2.2% |
| Nov 7, 2025 | $-3.12 | $-4.07 | -30.4% | $246M | +2.0% |
| Aug 6, 2025 | $-2.69 | $0.32 | +111.9% | $242M | +4.1% |
| May 8, 2025 | $-2.20 | $-3.43 | -55.9% | $231M | +0.9% |
CTEV insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 31, 2026 | Dalton Travisdirector, officer: Pres., CEO & Executive Chair | Buy | 1,950 | $38.48 |
| Aug 31, 2026 | Dalton Travisdirector, officer: Pres., CEO & Executive Chair | Buy | 4,500 | $38.81 |
| Aug 18, 2026 | Misencik Tiffaniofficer: SVP, Chief Growth Officer | Sell | 8,850 | $40.07 |
| Aug 12, 2026 | Mintz William B.officer: SVP, Chief Strategy Officer | Sell | 8,431 | $34.24 |
| Aug 7, 2026 | Mintz William B.officer: SVP, Chief Strategy Officer | Tax | 3,622 | $26.13 |
| Aug 7, 2026 | Garis Douglas Michaelofficer: EVP&CFO | Tax | 11,711 | $26.13 |
| Jul 2, 2026 | Albinson Brockofficer: SVP, Chief Accounting Officer | Grant | 3,649 | — |
| Jun 10, 2026 | Carol Nutterofficer: SVP, Chief People Officer | Buy | 875 | $28.41 |
| May 19, 2026 | Dalton Travisdirector, officer: Pres., CEO & Executive Chair | Buy | 9,720 | $12.92 |
| May 19, 2026 | Kim Michaelofficer: EVP, Chief Digital Officer | Buy | 3,000 | $16.65 |
| May 19, 2026 | Prince John Michaeldirector | Buy | 10,000 | $16.00 |
| May 19, 2026 | Dalton Travisdirector, officer: Pres., CEO & Executive Chair | Buy | 11,200 | $11.88 |
| May 1, 2026 | Colaluca Anthony Jrdirector | Grant | 8,977 | — |
| May 1, 2026 | Klapstein Julie Ddirector | Grant | 8,977 | — |
| May 1, 2026 | HARRIS C MARTINdirector | Grant | 8,977 | — |
Source: CTEV SEC Form 4 filings, latest Aug 31, 2026. For informational purposes only — not investment advice.
See the full CTEV insider & 13F page →Claritev Corporation company profile
Overview
Claritev Corporation (NYSE:CTEV) is a healthcare technology and data analytics company that provides cost management and payment integrity solutions to the U.S. healthcare industry. Founded in 1980 and originally known as MultiPlan Corporation, the company rebranded to Claritev in February 2025 as part of its strategic transformation initiative called "Vision 2030." Headquartered in New York, the company went public in April 2020 and has evolved from a traditional healthcare cost containment provider into a data-driven technology company focused on reducing healthcare costs through advanced analytics and network-based solutions.
Business
Claritev operates in the healthcare information services industry, serving as an intermediary between healthcare payers (insurance companies) and providers (hospitals, doctors) to reduce medical costs and improve payment accuracy. The U.S. healthcare system is notoriously complex and expensive, with significant inefficiencies in billing, pricing, and payment processes. Claritev positions itself as a solution provider that helps identify overcharges, negotiate better rates, and ensure proper payment processing. The company operates through three primary business segments that collectively generated $930.6 million in revenue for fiscal 2024: Network-Based Services represent the largest segment, providing contracted discount arrangements with healthcare providers. When a patient receives care from a provider in Claritev's network, the insurance company automatically receives pre-negotiated discounted rates rather than paying full charges. This segment also includes outsourced network development and management services for health plans. However, this segment has faced challenges, declining 17.1% year-over-year in 2024. Analytics-Based Services utilize proprietary algorithms and data science to identify claims that contain overcharges or inappropriate billing. After processing medical claims through their analytical engines, Claritev detects potential savings opportunities and either negotiates reimbursements or recommends payment adjustments to clients. This segment showed resilience with 1.4% growth in 2024, demonstrating the value of data-driven cost containment. Payment and Revenue Integrity Services focus on identifying and removing improper charges during the claims adjudication process, as well as helping restore underpaid premium dollars. This segment also includes business-to-business healthcare payment processing services. Revenue in this segment decreased 1.6% in 2024. The company processes enormous volumes of healthcare transactions, handling $177.6 billion in total bill charges in 2024 and identifying $24.7 billion in potential savings opportunities for their clients.
Revenue model
Claritev generates revenue primarily through service fees and performance-based pricing models tied to the savings they deliver to healthcare payers. The company's clients include national and regional insurance companies, Blue Cross Blue Shield plans, third-party administrators (TPAs), self-insured employer health plans, and property and casualty insurers involved in medical claim processing. For network-based services, Claritev typically earns fees based on the volume of claims processed through their provider networks or the savings achieved through pre-negotiated discount arrangements. The analytics-based services operate on a performance model where Claritev shares in the savings they identify - essentially taking a percentage of the overcharges they detect and help recover. Payment integrity services generate revenue through processing fees and performance-based arrangements tied to the improper charges they prevent or recover. Several factors significantly impact Claritev's margins and revenue potential. Healthcare inflation generally benefits the company since higher medical costs create larger absolute dollar savings opportunities, even if percentage savings remain constant. Regulatory changes around price transparency and surprise billing, such as the No Surprises Act, create both opportunities and challenges - while increasing demand for transparency solutions, they may also impact traditional network-based revenue models. Client concentration risk poses a significant margin pressure, as evidenced by the company's challenges when large clients modify or terminate programs. Technology investments in AI and data analytics capabilities can improve margins over time by automating processes and enhancing savings identification, but require substantial upfront capital. Competition from other cost containment companies and potential disintermediation by direct payer-provider arrangements could pressure pricing and market share. The shift toward value-based care and alternative payment models in healthcare creates both opportunities for new service offerings and risks to traditional fee-for-service based revenue streams.
Competitive moat
Claritev's competitive moat appears moderate but faces structural challenges in the evolving healthcare landscape. The company's primary advantages stem from its extensive provider network relationships built over four decades, which create switching costs for clients who would need to rebuild these connections elsewhere. The company's proprietary data analytics capabilities and algorithms, refined through processing billions of dollars in claims annually, provide some differentiation in identifying savings opportunities that competitors might miss. Scale advantages in data processing create network effects - the more claims Claritev processes, the better their algorithms become at detecting patterns and anomalies. The company's client relationships with major insurers often involve multi-year contracts and deep integration into claims processing workflows, creating switching costs and relationship stickiness. However, several factors weaken this moat significantly. The healthcare industry's movement toward price transparency and direct contracting between payers and providers threatens to disintermediate traditional network-based services. Regulatory changes like the No Surprises Act alter the fundamental dynamics of healthcare pricing and may reduce demand for certain traditional services. Technology disruption poses a substantial threat, as health insurers increasingly develop in-house analytics capabilities or partner directly with technology companies rather than using intermediaries. The rise of artificial intelligence and machine learning tools democratizes advanced analytics capabilities that were once Claritev's exclusive domain. Client concentration creates vulnerability, as evidenced by the significant revenue impact from individual large client decisions. The company lacks strong brand recognition among end consumers and operates in a business-to-business environment where relationships and performance metrics drive decisions more than brand loyalty. Overall, while Claritev has built meaningful competitive advantages through scale and relationships, the structural shifts in healthcare toward transparency and direct relationships pose long-term challenges to the sustainability of its traditional moat.
Risks & safety
Claritev's margin of safety appears concerning based on current financial metrics and trends: **Cash and Liquidity Position:** • Cash and short-term investments: $23.1 million (Q1 2025) • Negative free cash flow: -$68.9 million (Q1 2025) • Negative operating cash flow: -$30.1 million (Q1 2025) • Current ratio: 1.02, indicating tight liquidity **Debt and Solvency:** • Total liabilities: $5.07 billion vs total assets: $5.08 billion • Debt-to-equity ratio: 54.0 (extremely high leverage) • Company underwent debt refinancing in 2024 with 99.75% participation **Valuation Metrics:** • Trading at negative P/E ratios due to consistent losses • EV/EBITDA: 10.9x (Q1 2025) • Price-to-book: 22.6x (significantly elevated) • Revenue declining 3.2% in 2024 **Other Considerations:** • Consistent negative net income across recent quarters • Goodwill and intangible assets comprise majority of asset base • Facing structural headwinds in core business segments • High client concentration risk
Recent development
Over the past few years, Claritev has undergone significant strategic transformation in response to declining traditional revenue streams and evolving healthcare market dynamics. The most visible change was the company's rebranding from MultiPlan Corporation to Claritev Corporation in February 2025, symbolizing its shift from a traditional healthcare cost containment company to a technology and data-focused organization. The centerpiece of this transformation is the Vision 2030 strategic initiative, launched to modernize the company's operations and reduce operating costs by 10-15%. This comprehensive program includes implementing Oracle Cloud-based systems, developing cloud-native products, and establishing a new enterprise resource planning (ERP) system. The company hired its first Chief AI Officer and is investing heavily in artificial intelligence capabilities to enhance its analytics offerings. Product innovation has accelerated with the launch of CompleteVue, a transparency analytics product designed to help clients navigate the complex landscape of healthcare price transparency regulations. The company identified 15 new product ideas and 30 enhancements in 2024, focusing on expanding beyond traditional cost containment into broader healthcare insights and decision support tools. Operational restructuring includes implementing a general manager model to streamline business operations and improve accountability. The company is pursuing new market opportunities in federal government contracts and specialty network services while strengthening relationships with existing clients through enhanced service offerings. Despite these initiatives, the company faces ongoing challenges with revenue retention, projecting a 97% net revenue retention rate for 2025. The network-based services segment, historically the largest revenue contributor, continues to decline as healthcare market dynamics shift toward direct contracting and price transparency requirements. The strategic focus has shifted toward developing predictable, multi-year revenue models and expanding into adjacent healthcare technology markets, though commercial traction for new products has been slower than anticipated.
CTEV company profile · for informational purposes only — not investment advice.
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