Canaccord Genuity Group Forecasts Strong Price Appreciation for Claritev (NYSE:CTEV) Stock

Claritev (NYSE:CTEV) had its price target raised by stock analysts at Canaccord Genuity Group from $32.00 to $37.00 in a research note issued on Tuesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 47.59% from the company’s previous close.

CTEV has been the subject of several other reports. Citigroup reiterated a “buy” rating on shares of Claritev in a research report on Wednesday, May 13th. Zacks Research downgraded shares of Claritev from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Barclays assumed coverage on shares of Claritev in a report on Friday, April 24th. They set an “overweight” rating and a $28.00 price objective for the company. Wall Street Zen downgraded shares of Claritev from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a research report on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Claritev presently has an average rating of “Hold” and an average target price of $34.50.

Claritev Stock Performance

Shares of CTEV stock opened at $25.07 on Tuesday. Claritev has a 52-week low of $11.50 and a 52-week high of $74.07. The firm has a market capitalization of $427.44 million, a P/E ratio of -1.45 and a beta of 0.69. The stock has a 50 day moving average price of $28.06 and a 200 day moving average price of $24.31.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. FAS Wealth Partners Inc. lifted its holdings in shares of Claritev by 49.5% during the first quarter. FAS Wealth Partners Inc. now owns 46,477 shares of the company’s stock worth $759,000 after purchasing an additional 15,380 shares during the period. Bank of America Corp DE raised its holdings in shares of Claritev by 146.6% during the first quarter. Bank of America Corp DE now owns 97,795 shares of the company’s stock worth $1,598,000 after purchasing an additional 58,133 shares during the last quarter. RBF Capital LLC raised its holdings in shares of Claritev by 0.8% during 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 during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Claritev during the first quarter valued at $38,000. Finally, State of Wyoming lifted its position in 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. Hedge funds and other institutional investors own 87.15% of the company’s stock.

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.