JPMorgan Chase & Co. Issues Pessimistic Forecast for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $13.00 to $12.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 29.59% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Canaccord Genuity Group dropped their price target on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Stephens cut their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of Evolent Health in a report on Friday, February 21st. Oppenheimer cut their price objective on Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Piper Sandler reissued an “overweight” rating and issued a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. One 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’s stock. Based on data from MarketBeat.com, Evolent Health presently has an average rating of “Buy” and an average price target of $17.71.

Evolent Health Stock Up 3.0 %

Shares of EVH traded up $0.27 on Monday, hitting $9.26. 1,240,193 shares of the stock traded hands, compared to its average volume of 2,056,347. The company has a market capitalization of $1.08 billion, a PE ratio of -11.29 and a beta of 1.49. Evolent Health has a one year low of $8.35 and a one year high of $34.51. 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 business has a 50 day simple moving average of $10.37 and a 200 day simple moving average of $17.61.

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

Insider Buying and Selling at Evolent Health

In other Evolent Health news, CEO Seth Blackley bought 55,225 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $9.01 per share, with a total value of $497,577.25. Following the purchase, the chief executive officer now owns 762,217 shares of the company’s stock, valued at $6,867,575.17. This trade represents a 7.81 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Diane Holder purchased 2,735 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $9.33 per share, with a total value of $25,517.55. Following the completion of the purchase, the director now directly owns 70,584 shares in the company, valued at $658,548.72. This trade represents a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 74,000 shares of company stock valued at $666,315 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Evolent Health

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Covestor Ltd grew its position in shares of Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 826 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Evolent Health during the fourth quarter valued at approximately $26,000. R Squared Ltd purchased a new position in Evolent Health during the 4th quarter valued at approximately $31,000. AlphaQuest LLC increased its stake in Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after acquiring an additional 3,031 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Evolent Health by 90.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after acquiring an additional 2,358 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.