Citigroup Lowers Evolent Health (NYSE:EVH) Price Target to $33.00

Evolent Health (NYSE:EVH) had its target price reduced by equities research analysts at Citigroup from $35.00 to $33.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective indicates a potential upside of 36.36% from the stock’s current price.

EVH has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price objective on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price objective on shares of Evolent Health in a report on Tuesday, October 8th. JMP Securities dropped their price objective on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. Truist Financial restated a “buy” rating and issued a $33.00 price objective on shares of Evolent Health in a report on Tuesday, August 27th. Finally, KeyCorp assumed coverage on shares of Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective for the company. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $38.60.

Evolent Health Trading Up 4.0 %

Shares of EVH stock opened at $24.20 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $2.81 billion, a PE ratio of -19.36 and a beta of 1.56. The company has a 50-day moving average of $28.17 and a two-hundred day moving average of $25.20. Evolent Health has a 1-year low of $17.98 and a 1-year high of $35.00.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. The company had revenue of $647.10 million during the quarter, compared to analyst estimates of $636.46 million. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. Evolent Health’s revenue was up 37.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. On average, analysts predict that Evolent Health will post 0.84 EPS for the current year.

Insider Transactions at Evolent Health

In other news, COO Emily Ann Rafferty sold 8,861 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $265,830.00. Following the completion of the sale, the chief operating officer now owns 63,408 shares in the company, valued at approximately $1,902,240. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Emily Ann Rafferty sold 8,861 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $265,830.00. Following the completion of the sale, the chief operating officer now owns 63,408 shares in the company, valued at $1,902,240. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the completion of the sale, the president now owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 307,291 shares of company stock worth $9,290,385. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Evolent Health

Several institutional investors have recently bought and sold shares of EVH. Principal Financial Group Inc. increased its stake in Evolent Health by 18.9% in the 1st quarter. Principal Financial Group Inc. now owns 15,114 shares of the technology company’s stock valued at $496,000 after buying an additional 2,398 shares during the period. BNP Paribas Financial Markets increased its stake in Evolent Health by 86.7% in the 1st quarter. BNP Paribas Financial Markets now owns 99,126 shares of the technology company’s stock valued at $3,250,000 after buying an additional 46,024 shares during the period. Janney Capital Management LLC increased its stake in Evolent Health by 7.6% in the 1st quarter. Janney Capital Management LLC now owns 9,543 shares of the technology company’s stock valued at $313,000 after buying an additional 671 shares during the period. Quantbot Technologies LP acquired a new position in Evolent Health in the 1st quarter valued at $528,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Evolent Health in the 1st quarter valued at $459,000.

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.