Evolent Health (NYSE:EVH) Given New $16.00 Price Target at BTIG Research

Evolent Health (NYSE:EVH) had its target price decreased by investment analysts at BTIG Research from $20.00 to $16.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. BTIG Research’s price target indicates a potential upside of 222.26% from the stock’s current price.

Several other equities analysts have also recently commented on EVH. Truist Financial boosted their price target on shares of Evolent Health from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Piper Sandler upped their target price on Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Stephens reaffirmed an “equal weight” rating and set a $9.00 price target on shares of Evolent Health in a research note on Wednesday, September 24th. Zacks Research cut Evolent Health from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Evolent Health in a research note on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.54.

Evolent Health Stock Down 17.3%

Evolent Health stock traded down $1.04 during mid-day trading on Friday, hitting $4.97. The company’s stock had a trading volume of 8,672,165 shares, compared to its average volume of 2,714,703. Evolent Health has a 52-week low of $4.92 and a 52-week high of $15.56. The company has a market cap of $583.43 million, a PE ratio of -3.08 and a beta of 0.58. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50 day moving average is $8.26 and its 200 day moving average is $9.07.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Tuesday, June 4th. The technology company reported $0.21 earnings per share (EPS) for the quarter. The business had revenue of $427.70 million during the quarter. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. On average, analysts anticipate that Evolent Health will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in Evolent Health during the 4th quarter worth $3,927,000. Teacher Retirement System of Texas bought a new position in shares of Evolent Health in the first quarter worth about $137,000. Signaturefd LLC increased its stake in shares of Evolent Health by 400.6% in the first quarter. Signaturefd LLC now owns 7,043 shares of the technology company’s stock worth $67,000 after purchasing an additional 5,636 shares during the period. Hussman Strategic Advisors Inc. lifted its position in shares of Evolent Health by 66.7% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 105,000 shares of the technology company’s stock worth $994,000 after purchasing an additional 42,000 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Evolent Health by 48.9% during the 1st quarter. Allianz Asset Management GmbH now owns 68,541 shares of the technology company’s stock valued at $649,000 after purchasing an additional 22,514 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.