JPMorgan Chase & Co. Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $45.00 to $15.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 29.31% from the stock’s previous close.

Several other brokerages have also commented on EVH. Citigroup decreased their target price on Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. KeyCorp started coverage on shares of Evolent Health in a research note on Friday, October 11th. They set an “overweight” rating and a $35.00 target price for the company. Stephens downgraded shares of Evolent Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. Barclays lowered their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $20.00 target price on shares of Evolent Health in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $25.90.

Evolent Health Stock Up 0.1 %

EVH stock traded up $0.01 during mid-day trading on Friday, hitting $11.60. 253,167 shares of the company were exchanged, compared to its average volume of 1,781,558. The company has a market capitalization of $1.35 billion, a PE ratio of -12.74 and a beta of 1.58. The firm has a fifty day simple moving average of $23.63 and a 200 day simple moving average of $23.91. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a twelve month low of $11.17 and a twelve month high of $35.00.

Institutional Trading of Evolent Health

A number of hedge funds and other institutional investors have recently made changes to their positions in EVH. Vanguard Group Inc. grew its holdings in Evolent Health by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock worth $357,905,000 after acquiring an additional 93,739 shares during the period. American International Group Inc. increased its stake in Evolent Health by 1.2% in the first quarter. American International Group Inc. now owns 55,402 shares of the technology company’s stock valued at $1,817,000 after purchasing an additional 640 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Evolent Health by 8.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 39,522 shares of the technology company’s stock worth $1,297,000 after purchasing an additional 3,064 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Evolent Health by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 717,334 shares of the technology company’s stock valued at $23,522,000 after buying an additional 75,376 shares in the last quarter. Finally, First Light Asset Management LLC raised its stake in Evolent Health by 252.6% during the 1st quarter. First Light Asset Management LLC now owns 288,181 shares of the technology company’s stock worth $9,449,000 after buying an additional 206,459 shares during the period.

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.