Evolent Health (NYSE:EVH) Price Target Cut to $12.00 by Analysts at JPMorgan Chase & Co.

Evolent Health (NYSE:EVH) had its price target cut by equities researchers at JPMorgan Chase & Co. from $13.00 to $12.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 29.59% from the company’s current price.

Several other research firms have also recently weighed in on EVH. Barclays decreased their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Royal Bank of Canada lowered their price target 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. Canaccord Genuity Group cut their price objective on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Finally, UBS Group decreased their price target on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Evolent Health presently has a consensus rating of “Buy” and a consensus target price of $17.71.

Evolent Health Price Performance

Shares of Evolent Health stock traded up $0.27 on Monday, reaching $9.26. The stock had a trading volume of 1,240,193 shares, compared to its average volume of 2,056,347. The business’s 50 day moving average is $10.37 and its two-hundred day moving average is $17.61. 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 1 year low of $8.35 and a 1 year high of $34.51. The company has a market cap of $1.08 billion, a P/E ratio of -11.29 and a beta of 1.49.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The firm had revenue of $646.54 million for the quarter, compared to analysts’ expectations of $650.92 million. As a group, research analysts anticipate that Evolent Health will post 0.08 EPS for the current year.

Insider Buying and Selling

In other news, Director Diane Holder bought 2,735 shares of the stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the purchase, the director now directly owns 70,584 shares in the company, valued at $658,548.72. This trade represents a 4.03 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brendan B. Springstubb purchased 5,000 shares of Evolent Health stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $8.75 per share, for a total transaction of $43,750.00. Following the completion of the purchase, the director now owns 11,842 shares of the company’s stock, valued at $103,617.50. This trade represents a 73.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 74,000 shares of company stock valued at $666,315 over the last quarter. 1.60% of the stock is owned by company insiders.

Institutional Trading of Evolent Health

A number of hedge funds and other institutional investors have recently modified their holdings of EVH. US Bancorp DE boosted its stake in Evolent Health by 180.3% during the third quarter. US Bancorp DE now owns 6,579 shares of the technology company’s stock worth $186,000 after acquiring an additional 4,232 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Evolent Health by 268.0% in the 3rd quarter. Principal Financial Group Inc. now owns 57,382 shares of the technology company’s stock worth $1,623,000 after purchasing an additional 41,788 shares in the last quarter. Atria Investments Inc purchased a new stake in shares of Evolent Health in the 3rd quarter worth approximately $208,000. Covestor Ltd increased its position in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after buying an additional 826 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in Evolent Health during the 3rd quarter valued at approximately $1,774,000.

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.