Evolent Health (NYSE:EVH) Sets New 52-Week Low at $20.38

Evolent Health, Inc. (NYSE:EVH)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $20.38 and last traded at $20.49, with a volume of 159735 shares. The stock had previously closed at $20.85.

Analyst Upgrades and Downgrades

EVH has been the topic of several analyst reports. Oppenheimer started coverage on shares of Evolent Health in a report on Friday, March 1st. They set an “outperform” rating and a $45.00 price target on the stock. JMP Securities decreased their price target on Evolent Health from $38.00 to $34.00 and set a “market outperform” rating for the company in a research note on Friday, May 10th. JPMorgan Chase & Co. cut their price objective on Evolent Health from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Citigroup assumed coverage on Evolent Health in a research note on Monday, April 22nd. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Canaccord Genuity Group lowered their target price on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Evolent Health has an average rating of “Moderate Buy” and an average target price of $42.00.

Evolent Health Price Performance

The stock has a market cap of $2.33 billion, a PE ratio of -16.05 and a beta of 1.44. The firm’s 50-day moving average price is $24.20 and its two-hundred day moving average price is $29.01. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, May 9th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. The business had revenue of $639.65 million for the quarter, compared to analysts’ expectations of $601.60 million. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. On average, equities analysts expect that Evolent Health, Inc. will post 0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in Evolent Health in the fourth quarter valued at approximately $43,759,000. Axiom Investors LLC DE increased its position in Evolent Health by 218.5% during the 4th quarter. Axiom Investors LLC DE now owns 142,545 shares of the technology company’s stock valued at $4,708,000 after buying an additional 97,785 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Evolent Health by 81.3% in the fourth quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock valued at $88,355,000 after buying an additional 1,199,400 shares during the last quarter. Salem Investment Counselors Inc. boosted its holdings in Evolent Health by 1,223.6% in the first quarter. Salem Investment Counselors Inc. now owns 120,121 shares of the technology company’s stock worth $3,939,000 after acquiring an additional 111,046 shares in the last quarter. Finally, HB Wealth Management LLC purchased a new stake in shares of Evolent Health during the fourth quarter worth about $1,425,000.

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.