JMP Securities Issues Pessimistic Forecast for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its target price dropped by investment analysts at JMP Securities from $27.00 to $18.00 in a report issued on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the technology company’s stock. JMP Securities’ price objective would indicate a potential upside of 44.35% from the stock’s previous close.

EVH has been the subject of a number of other reports. BTIG Research reduced their target price on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Citigroup lowered their price target on Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Evolent Health in a research report on Tuesday, November 12th. Oppenheimer reduced their target price on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, November 18th. Finally, Needham & Company LLC initiated coverage on shares of Evolent Health in a research note on Friday. They set a “buy” rating and a $15.00 price target on the stock. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $24.17.

Evolent Health Stock Performance

Shares of NYSE:EVH traded down $0.13 on Friday, hitting $12.47. The company’s stock had a trading volume of 283,556 shares, compared to its average volume of 1,251,693. The stock’s 50-day moving average is $13.13 and its two-hundred day moving average is $21.09. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -13.70 and a beta of 1.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. Evolent Health has a 12 month low of $10.53 and a 12 month high of $35.00.

Institutional Trading of Evolent Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in Evolent Health by 12.8% during the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after purchasing an additional 1,426,747 shares during the period. Point72 Asset Management L.P. increased its position in shares of Evolent Health by 1,948.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after buying an additional 1,422,385 shares in the last quarter. William Blair Investment Management LLC grew its stake in Evolent Health by 35.2% in the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after acquiring an additional 1,308,376 shares during the period. First Light Asset Management LLC boosted its holdings in shares of Evolent Health by 401.5% in the second quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock valued at $27,634,000 after buying an additional 1,157,124 shares during the period. Finally, Bellevue Group AG grew its stake in shares of Evolent Health by 59.9% during the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after acquiring an additional 1,000,215 shares in the last quarter.

Evolent Health Company Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.