Citigroup Lowers Claritev (NYSE:CTEV) Price Target to $21.00

Claritev (NYSE:CTEV) had its price objective lowered by investment analysts at Citigroup from $63.00 to $21.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 47.78% from the company’s previous close.

A number of other research analysts also recently weighed in on CTEV. UBS Group reissued a “buy” rating on shares of Claritev in a research report on Tuesday. Guggenheim reiterated a “buy” rating on shares of Claritev in a research note on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a report on Monday, December 29th. Finally, Wells Fargo & Company set a $30.00 target price on Claritev and gave the company an “equal weight” rating in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.67.

Claritev Price Performance

NYSE CTEV opened at $14.21 on Wednesday. The business’s fifty day moving average is $29.50 and its 200-day moving average is $47.22. The stock has a market capitalization of $234.61 million, a price-to-earnings ratio of -0.82 and a beta of 0.50. Claritev has a one year low of $12.04 and a one year high of $74.07.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers purchased a new stake in shares of Claritev during the third quarter worth $567,000. JPMorgan Chase & Co. bought a new stake in shares of Claritev during the 3rd quarter valued at $1,245,000. Vanguard Group Inc. bought a new stake in shares of Claritev during the 3rd quarter valued at $27,483,000. Citigroup Inc. purchased a new stake in Claritev during the 3rd quarter worth about $2,025,000. Finally, Ameritas Investment Partners Inc. bought a new position in Claritev in the 3rd quarter worth about $42,000. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

About Claritev

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.