Evolent Health (NYSE:EVH) Reaches New 1-Year Low on Analyst Downgrade

Shares of Evolent Health, Inc. (NYSE:EVH) reached 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 changing hands. The stock had previously closed at $10.17.

Several other equities analysts have also recently weighed in on the company. BTIG Research cut their price objective on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Stephens dropped their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday. UBS Group decreased their price target on Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada cut their price objective on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. Finally, Oppenheimer lowered their target price on Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $21.23.

Institutional Investors Weigh In On Evolent Health

Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in Evolent Health by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company’s stock worth $45,286,000 after purchasing an additional 121,770 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Evolent Health during the second quarter valued at $61,000. Gabelli Funds LLC lifted its stake in Evolent Health by 14.6% in the second quarter. Gabelli Funds LLC now owns 732,000 shares of the technology company’s stock worth $13,996,000 after acquiring an additional 93,500 shares during the period. Marshall Wace LLP bought a new position in Evolent Health during the 2nd quarter worth about $1,231,000. Finally, Point72 DIFC Ltd bought a new position in Evolent Health during the 2nd quarter worth about $148,000.

Evolent Health Stock Performance

The firm’s fifty day moving average price is $11.60 and its 200 day moving average price is $20.59. The firm has a market cap of $1.16 billion, a P/E ratio of -10.94 and a beta of 1.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.38). Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. The firm had revenue of $621.40 million during the quarter, compared to the consensus estimate of $625.58 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. Sell-side analysts expect that Evolent Health, Inc. will post 0.26 EPS for the current fiscal year.

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.