Evolent Health (NYSE:EVH) Trading Down 4% – Should You Sell?

Evolent Health, Inc (NYSE:EVH) shares traded down 4% on Thursday . The stock traded as low as $4.63 and last traded at $4.7250. Approximately 204,012 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 3,043,218 shares. The stock had previously closed at $4.92.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. lifted their price target on Evolent Health from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 18th. Needham & Company LLC boosted their price objective on Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a report on Thursday, May 7th. TD Cowen upped their price objective on Evolent Health from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Finally, Canaccord Genuity Group cut their price objective on Evolent Health from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Evolent Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.96.

Evolent Health Trading Down 2.7%

The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 2.52. The firm’s 50 day simple moving average is $4.78 and its two-hundred day simple moving average is $3.82. The stock has a market cap of $540.99 million, a P/E ratio of -1.05 and a beta of 0.79.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Evolent Health had a negative net margin of 24.08% and a negative return on equity of 4.27%. The company had revenue of $484.50 million for the quarter, compared to analysts’ expectations of $597.70 million. During the same period in the prior year, the company earned ($0.10) earnings per share. The firm’s revenue was up 46.9% compared to the same quarter last year. As a group, equities research analysts predict that Evolent Health, Inc will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Institutional investors and hedge funds have recently bought and sold shares of the business. Durable Capital Partners LP bought a new position in Evolent Health in the second quarter worth about $72,326,000. Rubicon Founders LLC bought a new position in shares of Evolent Health during the third quarter valued at approximately $49,204,000. 8 Knots Management LLC bought a new position in shares of Evolent Health during the second quarter valued at approximately $32,802,000. Goldman Sachs Group Inc. raised its position in shares of Evolent Health by 162.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock worth $26,861,000 after purchasing an additional 1,754,520 shares during the period. Finally, Maverick Capital Ltd. raised its position in shares of Evolent Health by 1.3% during the 1st quarter. Maverick Capital Ltd. now owns 2,572,763 shares of the technology company’s stock worth $5,866,000 after purchasing an additional 32,833 shares during the period.

About Evolent Health

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.