Convey Health Solutions (NYSE:CNVY) Price Target Cut to $11.00 by Analysts at Canaccord Genuity Group

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

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

Shares of CNVY opened at $5.38 on Wednesday. The firm has a 50-day moving average of $5.89 and a 200-day moving average of $6.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.45 and a quick ratio of 1.68. Convey Health Solutions has a one year low of $4.85 and a one year high of $14.29.

Convey Health Solutions (NYSE:CNVY – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.02) earnings per share 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, analysts expect that Convey Health Solutions will post 0.35 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. Citigroup Inc. increased its holdings in Convey Health Solutions by 123.7% in the fourth quarter. Citigroup Inc. now owns 3,434 shares of the company’s stock valued at $29,000 after purchasing an additional 1,899 shares during the period. New York State Common Retirement Fund bought a new position in Convey Health Solutions during the 4th quarter worth $51,000. Allspring Global Investments Holdings LLC bought a new position in Convey Health Solutions during the 1st quarter worth $51,000. California State Teachers Retirement System bought a new position in Convey Health Solutions during the 3rd quarter worth $61,000. Finally, American International Group Inc. bought a new position in Convey Health Solutions during the 3rd quarter worth $62,000. 90.73% of the stock is currently owned by institutional investors.

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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