Evolent Health’s (EVH) Sell Rating Reiterated at Citigroup

Citigroup reiterated their sell rating on shares of Evolent Health (NYSE:EVH) in a report issued on Thursday morning, MarketBeat.com reports. They currently have a $6.75 target price on the technology company’s stock, up from their previous target price of $5.50.

EVH has been the topic of several other research reports. Needham & Company LLC raised their price target on Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Truist Financial cut shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a report on Tuesday, June 30th. Canaccord Genuity Group raised their target price on shares of Evolent Health from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings raised shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Evolent Health presently has an average rating of “Moderate Buy” and a consensus price target of $6.25.

Evolent Health Stock Down 9.8%

Shares of NYSE:EVH opened at $4.19 on Thursday. Evolent Health has a 52-week low of $2.10 and a 52-week high of $10.30. The stock has a market cap of $470.85 million, a P/E ratio of -0.88 and a beta of 0.76. The business’s 50 day moving average is $4.85 and its 200 day moving average is $3.76. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 2.46.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The company had revenue of $496.25 million for the quarter, compared to the consensus estimate of $534.00 million. During the same period last year, the business posted $0.06 EPS. Evolent Health’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts predict that Evolent Health will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC purchased a new stake in shares of Evolent Health during the 4th quarter worth $3,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Evolent Health by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock valued at $1,217,000 after purchasing an additional 3,572 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Evolent Health by 162.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after purchasing an additional 1,754,520 shares during the last quarter. Caxton Associates LLP purchased a new position in Evolent Health in the first quarter valued at about $252,000. Finally, Strs Ohio purchased a new position in Evolent Health in the first quarter valued at about $47,000.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.