Oppenheimer Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price target reduced by equities research analysts at Oppenheimer from $34.00 to $28.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price would indicate a potential upside of 134.51% from the company’s current price.

Several other equities analysts also recently commented on EVH. Truist Financial reissued a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a report on Tuesday, August 27th. Stephens downgraded shares of Evolent Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $38.00 to $16.00 in a research note on Friday, November 8th. Citigroup cut their price target on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Barclays cut their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, KeyCorp initiated coverage on shares of Evolent Health in a report on Friday, October 11th. They set an “overweight” rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $28.90.

Evolent Health Stock Performance

EVH opened at $11.94 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -13.12 and a beta of 1.58. The company’s 50 day moving average is $24.38 and its 200 day moving average is $24.08. Evolent Health has a 12-month low of $11.91 and a 12-month high of $35.00.

Insiders Place Their Bets

In related news, President Daniel Joseph Mccarthy sold 23,693 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the sale, the president now directly owns 198,809 shares in the company, valued at approximately $6,141,210.01. The trade was a 10.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the completion of the sale, the chief executive officer now owns 411,924 shares in the company, valued at approximately $12,357,720. This trade represents a 31.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 307,291 shares of company stock valued at $9,290,385 in the last 90 days. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Evolent Health

Institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd boosted its holdings in Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 826 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Evolent Health by 5,365.5% during the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after purchasing an additional 1,556 shares during the last quarter. Quarry LP purchased a new stake in shares of Evolent Health during the second quarter worth approximately $32,000. Canada Pension Plan Investment Board purchased a new stake in shares of Evolent Health during the second quarter worth approximately $61,000. Finally, Quest Partners LLC purchased a new stake in shares of Evolent Health during the second quarter worth approximately $87,000.

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.