Evolent Health (NYSE:EVH) Reaches New 12-Month Low After Analyst Downgrade

Evolent Health, Inc. (NYSE:EVH)’s share price reached a new 52-week low on Thursday after UBS Group lowered their price target on the stock from $27.00 to $14.00. UBS Group currently has a buy rating on the stock. Evolent Health traded as low as $9.93 and last traded at $10.01, with a volume of 6957802 shares changing hands. The stock had previously closed at $11.18.

A number of other research analysts have also recently issued reports on EVH. Needham & Company LLC began coverage on shares of Evolent Health in a research note on Friday, January 10th. They set a “buy” rating and a $15.00 price objective on the stock. Stephens cut Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. JMP Securities cut their price target on Evolent Health from $27.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Friday, January 10th. Citigroup lowered their price objective on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, KeyCorp assumed coverage on Evolent Health in a research note on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $21.92.

Institutional Investors Weigh In On Evolent Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted 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 worth $356,200,000 after buying an additional 1,426,747 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Evolent Health by 1,948.5% during 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 purchasing an additional 1,422,385 shares during the period. First Light Asset Management LLC increased its position in shares of Evolent Health by 401.5% during the 2nd quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock valued at $27,634,000 after purchasing an additional 1,157,124 shares during the last quarter. Bellevue Group AG lifted its stake in shares of Evolent Health by 59.9% in the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after purchasing an additional 1,000,215 shares during the period. Finally, Engaged Capital LLC boosted its holdings in shares of Evolent Health by 26.1% in the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after buying an additional 850,000 shares during the last quarter.

Evolent Health Price Performance

The company has a market capitalization of $1.17 billion, a P/E ratio of -11.01 and a beta of 1.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s 50-day moving average is $11.79 and its 200-day moving average is $20.71.

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.