Evolent Health (NYSE:EVH) Stock Price Down 0.5% Following Analyst Downgrade

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Shares of Evolent Health Inc (NYSE:EVH) fell 0.5% during mid-day trading on Tuesday after KeyCorp lowered their price target on the stock from $20.00 to $10.00. KeyCorp currently has an overweight rating on the stock. Evolent Health traded as low as $6.55 and last traded at $6.58, 41,642 shares changed hands during mid-day trading. A decline of 98% from the average session volume of 2,087,676 shares. The stock had previously closed at $6.61.

EVH has been the topic of several other research reports. Cowen set a $18.00 price target on shares of Evolent Health and gave the company a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research downgraded Evolent Health from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $10.15 price target on shares of Evolent Health in a research note on Wednesday, November 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price (down previously from $16.00) on shares of Evolent Health in a report on Wednesday, November 27th. Finally, Oppenheimer set a $15.00 price target on Evolent Health and gave the company a “buy” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Evolent Health has a consensus rating of “Buy” and an average price target of $13.20.

Institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC acquired a new position in Evolent Health during the 2nd quarter worth $40,000. ETRADE Capital Management LLC acquired a new position in Evolent Health during the second quarter worth $80,000. DekaBank Deutsche Girozentrale boosted its position in shares of Evolent Health by 94.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 12,061 shares of the technology company’s stock worth $95,000 after buying an additional 5,856 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of Evolent Health by 38.4% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 15,500 shares of the technology company’s stock worth $123,000 after buying an additional 4,300 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of Evolent Health in the second quarter valued at $125,000.

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.27. The stock has a market cap of $610.03 million, a PE ratio of -18.77 and a beta of 1.04. The company has a fifty day moving average of $8.39 and a 200-day moving average of $8.25.

Evolent Health (NYSE:EVH) last posted its earnings results on Tuesday, November 5th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. Evolent Health had a negative return on equity of 6.93% and a negative net margin of 15.02%. The firm had revenue of $220.14 million for the quarter, compared to analyst estimates of $217.90 million. During the same quarter in the prior year, the company earned ($0.04) EPS. Evolent Health’s revenue was up 46.8% on a year-over-year basis. As a group, research analysts anticipate that Evolent Health Inc will post -0.95 earnings per share for the current fiscal year.

About Evolent Health (NYSE:EVH)

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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