Claritev (NYSE:CTEV) Price Target Raised to $37.00

Claritev (NYSE:CTEV) had its target price raised by Canaccord Genuity Group from $32.00 to $37.00 in a report issued on Tuesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently weighed in on CTEV. Barclays began coverage on Claritev in a research report on Friday, April 24th. They set an “overweight” rating and a $28.00 price target on the stock. Wall Street Zen cut Claritev from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a research report on Wednesday, June 24th. Piper Sandler set a $61.00 price objective on Claritev in a report on Wednesday, June 3rd. Finally, Citigroup restated a “buy” rating on shares of Claritev in a research report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $34.50.

Claritev Stock Performance

NYSE CTEV opened at $23.13 on Tuesday. Claritev has a 52-week low of $11.50 and a 52-week high of $74.07. The company has a market capitalization of $394.37 million, a P/E ratio of -1.33 and a beta of 0.69. The company has a fifty day moving average of $28.03 and a 200-day moving average of $24.23.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in shares of Claritev by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 18,111 shares of the company’s stock valued at $296,000 after purchasing an additional 447 shares during the period. State of Wyoming bought a new position in shares of Claritev in the fourth quarter worth approximately $25,000. Ameritas Investment Partners Inc. purchased a new position in shares of Claritev in the third quarter worth $42,000. Legal & General Group Plc bought a new stake in Claritev during the 3rd quarter valued at $45,000. Finally, Invesco Ltd. raised its holdings in Claritev by 4.8% during the 4th quarter. Invesco Ltd. now owns 22,802 shares of the company’s stock valued at $975,000 after buying an additional 1,044 shares during the last quarter. 87.15% of the stock is owned by institutional investors.

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.