Claritev (NYSE:CTEV) Price Target Raised to $30.00

Key Points

• Wells Fargo raised Claritev’s price target to $30 from $22 while maintaining an “equal weight” rating, implying about 14.3% downside from the reported $35.01 share price.
• Analyst opinion remains mixed: the stock has a consensus “Hold” rating and an average price target of $40.83, with ratings ranging from “strong sell” to “buy.”
• Claritev shares were up 2.8% and are predominantly institutionally owned, with institutional investors holding approximately 87.15% of the stock.

Claritev (NYSE:CTEV - Get Free Report) had its price target boosted by investment analysts at Wells Fargo & Company from $22.00 to $30.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would indicate a potential downside of 14.31% from the company's current price.

A number of other research analysts have also weighed in on CTEV. Barclays assumed coverage on shares of Claritev in a research note on Friday, April 24th. They issued an "overweight" rating and a $28.00 price objective on the stock. Canaccord Genuity Group raised their price target on shares of Claritev from $37.00 to $43.00 and gave the company a "buy" rating in a research report on Monday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Claritev in a research report on Wednesday, June 24th. Zacks Research lowered Claritev from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Finally, Piper Sandler set a $61.00 price objective on Claritev in a report on Wednesday, June 3rd. 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 company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $40.83.

Claritev Trading Up 2.8%

NYSE CTEV opened at $35.01 on Wednesday. The company has a fifty day simple moving average of $29.15 and a 200 day simple moving average of $23.83. Claritev has a 12-month low of $11.50 and a 12-month high of $74.07. The company has a market cap of $596.92 million, a P/E ratio of -2.06 and a beta of 0.74.

Hedge Funds Weigh In On Claritev

Several institutional investors have recently modified their holdings of the business. Arini Captial Management Ltd bought a new stake in shares of Claritev in the 4th quarter worth approximately $64,291,000. Public Investment Fund purchased a new stake in shares of Claritev during the 3rd quarter valued at approximately $68,009,000. Vanguard Group Inc. purchased a new position in shares of Claritev in the third quarter valued at $27,483,000. Beach Point Capital Management LP lifted its holdings in shares of Claritev by 77.4% in the fourth quarter. Beach Point Capital Management LP now owns 755,002 shares of the company's stock worth $32,276,000 after buying an additional 329,424 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of Claritev in the third quarter worth $7,817,000. 87.15% of the stock is owned by 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.

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