Claritev (NYSE:CTEV) Price Target Raised to $43.00

Key Points

• Canaccord Genuity raised Claritev’s price target to $43 from $37 and maintained a “buy” rating, implying 34.38% potential upside from the reported current price.
• Analyst sentiment remains mixed: five analysts rate the stock a Buy, one a Hold, and two a Sell. The consensus rating is “Hold,” with an average price target of $35.50.
• Claritev shares opened at $32.00 after declining 1.8%; institutional investors own a substantial 87.15% of the company’s outstanding stock.

Claritev (NYSE:CTEV - Get Free Report) had its price target hoisted by equities researchers at Canaccord Genuity Group from $37.00 to $43.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective points to a potential upside of 34.38% from the company's current price.

Several other brokerages also recently commented on CTEV. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Claritev in a report on Wednesday, June 24th. Barclays began coverage on Claritev in a research report on Friday, April 24th. They set an "overweight" rating and a $28.00 price objective for the company. Piper Sandler set a $61.00 price objective on Claritev in a research note on Wednesday, June 3rd. Zacks Research cut Claritev from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Finally, Citigroup restated a "buy" rating on shares of Claritev in a report on Monday. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $35.50.

Claritev Stock Down 1.8%

Shares of CTEV stock opened at $32.00 on Monday. Claritev has a twelve month low of $11.50 and a twelve month high of $74.07. The stock's fifty day simple moving average is $28.88 and its 200 day simple moving average is $23.75. The firm has a market capitalization of $545.60 million, a P/E ratio of -1.88 and a beta of 0.74.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in Claritev by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 18,111 shares of the company's stock valued at $296,000 after buying an additional 447 shares during the last quarter. State of Wyoming purchased a new stake in shares of Claritev during the fourth quarter worth approximately $25,000. Ameritas Investment Partners Inc. purchased a new position in Claritev in the 3rd quarter valued at $42,000. Legal & General Group Plc acquired a new stake in shares of Claritev in the 3rd quarter worth $45,000. Finally, Invesco Ltd. increased its stake in shares of Claritev by 4.8% during the fourth quarter. Invesco Ltd. now owns 22,802 shares of the company's stock worth $975,000 after acquiring an additional 1,044 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source