Evolent Health (NYSE:EVH) Reaches New 1-Year Low – What’s Next?

Evolent Health, Inc. (NYSE:EVH)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $8.35 and last traded at $8.49, with a volume of 467309 shares. The stock had previously closed at $8.55.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EVH. UBS Group reduced their target price on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. JMP Securities restated a “market outperform” rating and set a $12.00 price objective on shares of Evolent Health in a research report on Friday, February 14th. Truist Financial dropped their target price on Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Barclays decreased their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Oppenheimer dropped their price objective on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $17.79.

Evolent Health Price Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a fifty day simple moving average of $10.56 and a 200 day simple moving average of $18.14. The company has a market capitalization of $1.02 billion, a PE ratio of -10.63 and a beta of 1.45.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The business had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. Equities analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.

Institutional Trading of Evolent Health

Several hedge funds and other institutional investors have recently bought and sold shares of EVH. Royce & Associates LP purchased a new stake in shares of Evolent Health during the third quarter valued at about $7,070,000. Foundry Partners LLC bought a new position in shares of Evolent Health during the 3rd quarter worth approximately $10,042,000. Salem Investment Counselors Inc. lifted its position in Evolent Health by 53.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock valued at $3,939,000 after acquiring an additional 121,369 shares during the last quarter. Nordea Investment Management AB boosted its stake in Evolent Health by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock valued at $1,469,000 after acquiring an additional 8,552 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of Evolent Health by 90.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock worth $9,036,000 after purchasing an additional 380,790 shares in the last quarter.

About Evolent Health

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.