Canaccord Genuity Group Issues Positive Forecast for Claritev (NYSE:CTEV) Stock Price

Claritev (NYSE:CTEV) had its target price boosted by analysts at Canaccord Genuity Group from $37.00 to $43.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 34.38% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Piper Sandler set a $61.00 price target on Claritev in a research note on Wednesday, June 3rd. Wall Street Zen raised shares of Claritev from a “sell” rating to a “hold” rating in a research note on Saturday. Citigroup reiterated a “buy” rating on shares of Claritev in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a research report on Wednesday, June 24th. Finally, Zacks Research cut shares of Claritev from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.50.

Claritev Trading Down 1.8%

Shares of CTEV stock opened at $32.00 on Monday. The company has a market capitalization of $545.60 million, a price-to-earnings ratio of -1.88 and a beta of 0.74. The firm has a 50-day moving average price of $28.88 and a 200 day moving average price of $23.75. Claritev has a twelve month low of $11.50 and a twelve month high of $74.07.

Hedge Funds Weigh In On Claritev

Hedge funds and other institutional investors have recently made changes to their positions in the business. FAS Wealth Partners Inc. increased its position in Claritev by 49.5% in the 1st quarter. FAS Wealth Partners Inc. now owns 46,477 shares of the company’s stock valued at $759,000 after acquiring an additional 15,380 shares during the period. Bank of America Corp DE boosted its position in Claritev by 146.6% during the 1st quarter. Bank of America Corp DE now owns 97,795 shares of the company’s stock worth $1,598,000 after acquiring an additional 58,133 shares during the period. RBF Capital LLC grew its stake in shares of Claritev by 0.8% in the first quarter. RBF Capital LLC now owns 135,314 shares of the company’s stock worth $2,211,000 after purchasing an additional 1,127 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Claritev during the first quarter valued at $38,000. Finally, State of Wyoming increased its holdings in shares of Claritev by 239.2% during the first quarter. State of Wyoming now owns 2,018 shares of the company’s stock valued at $33,000 after purchasing an additional 1,423 shares during the period. 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.