JPMorgan Chase & Co. Lowers Evolent Health (NYSE:EVH) Price Target to $15.00

Evolent Health (NYSE:EVH) had its price objective lowered by JPMorgan Chase & Co. from $45.00 to $15.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

EVH has been the topic of several other reports. KeyCorp initiated coverage on shares of Evolent Health in a research note on Friday, October 11th. They set an “overweight” rating and a $35.00 price target on the stock. Citigroup cut their target price on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $20.00 target price on shares of Evolent Health in a research report on Tuesday, November 12th. JMP Securities cut 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 research report on Friday, August 9th. Finally, Truist Financial restated a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a report on Tuesday, August 27th. One research 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’s stock. According to data from MarketBeat, Evolent Health presently has a consensus rating of “Buy” and a consensus target price of $25.90.

Evolent Health Stock Performance

Evolent Health stock opened at $12.22 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. Evolent Health has a 1-year low of $11.17 and a 1-year high of $35.00. The firm has a market capitalization of $1.42 billion, a P/E ratio of -13.42 and a beta of 1.58. The company’s 50-day moving average is $22.89 and its 200 day moving average is $23.64.

Institutional Trading of Evolent Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVH. RA Capital Management L.P. raised its stake in shares of Evolent Health by 125.0% during the 1st quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock worth $188,088,000 after purchasing an additional 3,187,000 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Evolent Health by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after purchasing an additional 1,426,747 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Evolent Health by 1,948.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after buying an additional 1,422,385 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Evolent Health by 35.2% in the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after buying an additional 1,308,376 shares during the last quarter. Finally, First Light Asset Management LLC raised its holdings in Evolent Health by 401.5% in the 2nd quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock valued at $27,634,000 after buying an additional 1,157,124 shares during the last quarter.

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.