Citigroup Cuts Claritev (NYSE:CTEV) Price Target to $21.00

Claritev (NYSE:CTEV) had its price target reduced by Citigroup from $63.00 to $21.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on CTEV. Guggenheim reissued a “buy” rating on shares of Claritev in a research note on Tuesday. Wells Fargo & Company set a $30.00 price objective on Claritev and gave the company an “equal weight” rating in a research report on Tuesday. UBS Group restated a “buy” rating on shares of Claritev in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.67.

Claritev Stock Performance

CTEV stock opened at $13.45 on Wednesday. The firm has a 50 day simple moving average of $28.94 and a 200 day simple moving average of $46.92. Claritev has a 52 week low of $12.04 and a 52 week high of $74.07. The stock has a market cap of $222.05 million, a P/E ratio of -0.78 and a beta of 0.50.

Institutional Investors Weigh In On Claritev

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming bought a new stake in Claritev in the 4th quarter valued at $25,000. Ameritas Investment Partners Inc. bought a new stake in shares of Claritev in the third quarter valued at about $42,000. Legal & General Group Plc acquired a new stake in Claritev during the third quarter worth about $45,000. Los Angeles Capital Management LLC bought a new position in Claritev during the fourth quarter valued at about $45,000. Finally, BNP Paribas Financial Markets acquired a new position in Claritev in the 3rd quarter valued at approximately $79,000. 87.15% of the stock is currently owned by institutional investors and hedge funds.

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.