Claritev (NYSE:CTEV) Given New $37.00 Price Target at Canaccord Genuity Group

Claritev (NYSE:CTEV) had its price target increased by investment analysts at Canaccord Genuity Group from $32.00 to $37.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 23.13% from the company’s previous close.

Other equities analysts have also issued reports about the company. Wall Street Zen lowered Claritev from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Citigroup reiterated a “buy” rating on shares of Claritev in a research note on Wednesday, May 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a report on Wednesday, June 24th. Piper Sandler set a $61.00 target price on Claritev in a report on Wednesday, June 3rd. Finally, Zacks Research cut Claritev from a “hold” rating to a “strong sell” rating in a research report on Friday. Five 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $34.50.

Claritev Trading Down 1.1%

Claritev stock opened at $30.05 on Tuesday. Claritev has a 1-year low of $11.50 and a 1-year high of $74.07. The firm’s fifty day simple moving average is $28.11 and its 200-day simple moving average is $24.53. The company has a market capitalization of $512.35 million, a P/E ratio of -1.73 and a beta of 0.69.

Institutional Trading of Claritev

Several hedge funds have recently added to or reduced their stakes in the business. Arini Captial Management Ltd bought a new position in Claritev in the 4th quarter worth approximately $64,291,000. Public Investment Fund bought a new stake in shares of Claritev in the third quarter valued at approximately $68,009,000. Beach Point Capital Management LP grew its stake 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 acquiring an additional 329,424 shares during the last quarter. Vanguard Group Inc. acquired a new stake in shares of Claritev in the third quarter worth $27,483,000. Finally, Charles Schwab Investment Management Inc. increased its position in Claritev by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 262,318 shares of the company’s stock worth $11,214,000 after acquiring an additional 39,845 shares during the period. Institutional investors own 87.15% of the company’s stock.

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.