Canaccord Genuity Group Initiates Coverage on Claritev (NYSE:CTEV)

Canaccord Genuity Group initiated coverage on shares of Claritev (NYSE:CTEV) in a report released on Friday, MarketBeat.com reports. The brokerage set a “buy” rating and a $32.00 price target on the stock. Canaccord Genuity Group’s target price points to a potential upside of 30.03% from the stock’s previous close.

Other analysts have also issued research reports about the company. Citigroup restated a “buy” rating on shares of Claritev in a report on Wednesday, May 13th. Barclays began coverage on Claritev in a research report on Friday, April 24th. They issued an “overweight” rating and a $28.00 price objective on the stock. Wells Fargo & Company cut their price objective on Claritev from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 19th. Wall Street Zen downgraded Claritev from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a research report on Friday, March 27th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.20.

Claritev Stock Performance

NYSE:CTEV opened at $24.61 on Friday. The stock’s fifty day moving average is $20.24 and its 200 day moving average is $28.06. Claritev has a fifty-two week low of $11.50 and a fifty-two week high of $74.07. The firm has a market capitalization of $419.60 million, a PE ratio of -1.42 and a beta of 0.76.

Insider Activity

In other news, EVP Michael Kim purchased 15,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were acquired at an average price of $16.50 per share, with a total value of $247,500.00. Following the transaction, the executive vice president owned 182,878 shares of the company’s stock, valued at $3,017,487. This represents a 8.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Claritev

Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wyoming bought a new position in shares of Claritev during the 4th quarter worth $25,000. Ameritas Investment Partners Inc. bought a new position in shares of Claritev during the 3rd quarter worth $42,000. Legal & General Group Plc bought a new position in shares of Claritev during the 3rd quarter worth $45,000. Los Angeles Capital Management LLC bought a new position in shares of Claritev during the 4th quarter worth $45,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Claritev during the 3rd quarter worth $79,000. 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.