Claritev (NYSE:CTEV) Price Target Raised to $37.00 at Canaccord Genuity Group

Claritev (NYSE:CTEV) had its price objective hoisted by equities researchers at Canaccord Genuity Group from $32.00 to $37.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 23.13% from the company’s current price.

A number of other research firms have also commented on CTEV. Zacks Research lowered shares of Claritev from a “hold” rating to a “strong sell” rating in a research note on Friday. Barclays started coverage on shares of Claritev in a research report on Friday, April 24th. They issued an “overweight” rating and a $28.00 target price on the stock. Citigroup restated a “buy” rating on shares of Claritev in a report on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a research note on Wednesday, June 24th. Finally, Wall Street Zen cut shares of Claritev from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $34.50.

Claritev Stock Performance

Claritev stock opened at $30.05 on Tuesday. The firm has a market cap of $512.35 million, a price-to-earnings ratio of -1.73 and a beta of 0.69. Claritev has a 1 year low of $11.50 and a 1 year high of $74.07. The firm’s 50 day moving average price is $28.11 and its two-hundred day moving average price is $24.53.

Institutional Trading of Claritev

Several institutional investors have recently made changes to their positions in CTEV. Arini Captial Management Ltd acquired a new position in Claritev in the 4th quarter valued at approximately $64,291,000. Public Investment Fund purchased a new position in Claritev in the third quarter valued at about $68,009,000. Beach Point Capital Management LP increased its position in Claritev by 77.4% in the 4th quarter. Beach Point Capital Management LP now owns 755,002 shares of the company’s stock worth $32,276,000 after purchasing an additional 329,424 shares during the last quarter. Vanguard Group Inc. acquired a new position in Claritev in the 3rd quarter worth about $27,483,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Claritev by 17.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 262,318 shares of the company’s stock worth $11,214,000 after purchasing an additional 39,845 shares in the last quarter. 87.15% of the stock is currently owned by institutional investors and hedge funds.

Claritev Company Profile

Claritev is a healthcare technology, data and insights company focused on improving affordability,  transparency and quality. Led by deeply experienced associates, data scientists, and innovators, Claritev provides tech-enabled solutions and services fueled by multiple data sources from over 40 years of claims repricing. Claritev utilizes world-class technology and AI solutions to power a robust enterprise platform that delivers meaningful insights to drive affordability in healthcare, brings price transparency and optimizes networks and benefits design.