Oppenheimer Cuts Evolent Health (NYSE:EVH) Price Target to $18.00

Evolent Health (NYSE:EVH) had its price objective cut by Oppenheimer from $28.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price points to a potential upside of 73.91% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. KeyCorp assumed coverage on shares of Evolent Health in a research note on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective on the stock. Barclays decreased their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Stephens cut their price target on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday. BTIG Research reduced their price target on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Finally, Citigroup cut their price objective on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, January 10th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Evolent Health presently has an average rating of “Buy” and a consensus price target of $18.54.

Evolent Health Stock Performance

Shares of NYSE EVH traded up $0.17 during mid-day trading on Friday, hitting $10.35. The stock had a trading volume of 410,111 shares, compared to its average volume of 2,422,668. The company has a 50 day moving average of $11.50 and a two-hundred day moving average of $20.44. The firm has a market cap of $1.21 billion, a PE ratio of -11.40 and a beta of 1.45. Evolent Health has a twelve month low of $9.74 and a twelve month high of $35.00. 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 (NYSE:EVH) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.38). Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. The company had revenue of $621.40 million for the quarter, compared to analyst estimates of $625.58 million. During the same period in the prior year, the business posted $0.19 earnings per share. Research analysts predict that Evolent Health will post 0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Several hedge funds and other institutional investors have recently made changes to their positions in EVH. Wellington Management Group LLP grew its stake in shares of Evolent Health by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after buying an additional 1,426,747 shares during the period. Point72 Asset Management L.P. grew its position in Evolent Health by 1,948.5% in the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock worth $42,289,000 after acquiring an additional 1,422,385 shares during the period. Bellevue Group AG increased its stake in Evolent Health by 59.9% during the third 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 during the last quarter. Harbor Capital Advisors Inc. raised its position in Evolent Health by 90.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock valued at $9,036,000 after purchasing an additional 380,790 shares during the period. Finally, Foundry Partners LLC acquired a new stake in shares of Evolent Health during the third quarter valued at about $10,042,000.

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.