Canaccord Genuity Group Trims Convey Health Solutions (NYSE:CNVY) Target Price to $11.00

Convey Health Solutions (NYSE:CNVY – Get Rating) had its price objective decreased by Canaccord Genuity Group from $14.00 to $11.00 in a research report report published on Wednesday, The Fly reports.

Several other brokerages have also issued reports on CNVY. Canaccord Genuity Group cut their price objective on Convey Health Solutions from $18.00 to $14.00 and set a buy rating for the company in a report on Thursday, March 24th. Barclays cut their price objective on Convey Health Solutions from $16.00 to $12.00 in a report on Monday, February 7th. Guggenheim assumed coverage on Convey Health Solutions in a report on Wednesday, April 6th. They set a buy rating and a $12.00 price objective for the company. Zacks Investment Research lowered Convey Health Solutions from a hold rating to a sell rating in a report on Wednesday, April 6th. Finally, The Goldman Sachs Group cut their target price on Convey Health Solutions from $10.00 to $9.00 and set a neutral rating on the stock in a report on Thursday, March 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $12.75.

Shares of Convey Health Solutions stock opened at $5.38 on Wednesday. The business has a fifty day simple moving average of $5.89 and a 200-day simple moving average of $6.63. The company has a quick ratio of 1.68, a current ratio of 2.45 and a debt-to-equity ratio of 0.49. Convey Health Solutions has a 12 month low of $4.85 and a 12 month high of $14.29.

Convey Health Solutions (NYSE:CNVY – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). Convey Health Solutions had a positive return on equity of 0.64% and a negative net margin of 2.90%. As a group, equities research analysts expect that Convey Health Solutions will post 0.35 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. lifted its position in Convey Health Solutions by 123.7% in the fourth quarter. Citigroup Inc. now owns 3,434 shares of the company’s stock worth $29,000 after purchasing an additional 1,899 shares during the period. New York State Common Retirement Fund bought a new position in shares of Convey Health Solutions during the fourth quarter valued at $51,000. California State Teachers Retirement System bought a new position in shares of Convey Health Solutions during the third quarter valued at $61,000. American International Group Inc. bought a new position in shares of Convey Health Solutions during the third quarter valued at $62,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Convey Health Solutions by 361.6% during the fourth quarter. Wells Fargo & Company MN now owns 7,704 shares of the company’s stock valued at $64,000 after acquiring an additional 6,035 shares during the period. Institutional investors and hedge funds own 90.73% of the company’s stock.

About Convey Health Solutions (Get Rating)

Convey Health Solutions Holdings, Inc provides technology enabled solutions and advisory services to assist its clients with workflows across product developments, sales, member experience, clinical management, core operations, and business intelligence and analytics. It operates through two segments, Technology Enabled Solutions and Advisory Services.

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