Evolent Health (NYSE:EVH) Hits New 1-Year Low Following Analyst Downgrade

Shares of Evolent Health, Inc. (NYSE:EVH) hit a new 52-week low during mid-day trading on Wednesday after Truist Financial lowered their price target on the stock from $20.00 to $15.00. Truist Financial currently has a buy rating on the stock. Evolent Health traded as low as $9.74 and last traded at $9.91, with a volume of 405376 shares changing hands. The stock had previously closed at $10.17.

A number of other research analysts have also issued reports on EVH. Barclays lowered their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Citigroup lowered their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Oppenheimer cut their target price on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, November 18th. BTIG Research decreased their price target on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Finally, Stephens dropped their price target on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Evolent Health has a consensus rating of “Buy” and an average target price of $21.23.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP increased its holdings 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 during the period. Point72 Asset Management L.P. grew its position in Evolent Health by 1,948.5% during the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after purchasing an additional 1,422,385 shares in the last quarter. Bellevue Group AG increased its stake in Evolent Health by 59.9% in the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock valued at $75,509,000 after buying an additional 1,000,215 shares during the period. Engaged Capital LLC lifted its position in Evolent Health by 26.1% in the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after buying an additional 850,000 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Evolent Health by 90.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock valued at $9,036,000 after buying an additional 380,790 shares during the period.

Evolent Health Stock Performance

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 firm has a market capitalization of $1.17 billion, a PE ratio of -10.98 and a beta of 1.45. The firm’s fifty day moving average price is $11.55 and its 200 day moving average price is $20.51.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, November 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.38). Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. The firm had revenue of $621.40 million during the quarter, compared to analysts’ expectations of $625.58 million. During the same quarter last year, the firm earned $0.19 EPS. On average, research analysts anticipate that Evolent Health, Inc. will post 0.26 earnings per share for the current year.

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.