Evolent Health (NYSE:EVH) Sets New 1-Year Low After Analyst Downgrade

Evolent Health, Inc. (NYSE:EVH) hit a new 52-week low during mid-day trading on Wednesday after Truist Financial lowered their price target on the stock from $20.00 to $15.00. Truist Financial currently has a buy rating on the stock. Evolent Health traded as low as $9.74 and last traded at $9.91, with a volume of 405376 shares. The stock had previously closed at $10.17.

Several other equities analysts have also weighed in on EVH. Royal Bank of Canada cut their price target on Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, January 14th. Citigroup decreased their target price on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. JMP Securities cut their price target on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating for the company in a report on Friday, January 10th. Stephens decreased their price objective on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, UBS Group cut their target price on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $21.23.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EVH. Covestor Ltd lifted its stake in Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after purchasing an additional 826 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after buying an additional 1,556 shares during the period. Quarry LP acquired a new position in Evolent Health during the 2nd quarter worth about $32,000. Creative Planning boosted its holdings in Evolent Health by 12.2% during the 2nd quarter. Creative Planning now owns 18,091 shares of the technology company’s stock valued at $346,000 after acquiring an additional 1,973 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Evolent Health in the 2nd quarter valued at about $61,000.

Evolent Health Price Performance

The stock’s 50 day simple moving average is $11.60 and its 200-day simple moving average is $20.59. 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 company has a market capitalization of $1.16 billion, a PE ratio of -10.94 and a beta of 1.45.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $621.40 million during the quarter, compared to analysts’ expectations of $625.58 million. During the same quarter in the prior year, the firm earned $0.19 EPS. As a group, equities analysts forecast that Evolent Health, Inc. will post 0.26 earnings per share for the current fiscal year.

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.