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

Evolent Health (NYSE:EVH) had its price objective lowered by analysts at BTIG Research from $36.00 to $29.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm presently has a “buy” rating on the technology company’s stock. BTIG Research’s target price would indicate a potential upside of 151.74% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Truist Financial restated a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. JPMorgan Chase & Co. cut their price target on Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Barclays cut their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Stephens cut Evolent Health from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $38.00 to $16.00 in a report on Friday, November 8th. Finally, Citigroup cut their price target on Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Evolent Health currently has an average rating of “Buy” and a consensus price target of $26.18.

Evolent Health Stock Performance

NYSE EVH opened at $11.52 on Tuesday. The company has a market cap of $1.34 billion, a PE ratio of -12.87 and a beta of 1.45. The stock’s 50 day simple moving average is $20.77 and its 200-day simple moving average is $23.18. Evolent Health has a 1-year low of $11.17 and a 1-year high of $35.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in Evolent Health by 3.2% in the second quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock valued at $298,000 after purchasing an additional 480 shares during the period. SeaCrest Wealth Management LLC lifted its holdings in Evolent Health by 6.3% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock worth $195,000 after buying an additional 600 shares during the last quarter. Arizona State Retirement System lifted its holdings in Evolent Health by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 29,083 shares of the technology company’s stock worth $556,000 after buying an additional 649 shares during the last quarter. Covestor Ltd lifted its holdings in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after buying an additional 826 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Evolent Health by 5,365.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after buying an additional 1,556 shares during the last quarter.

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.