Oppenheimer Cuts Evolent Health (NYSE:EVH) Price Target to $18.00

Evolent Health (NYSE:EVH) had its target price cut by Oppenheimer from $28.00 to $18.00 in a research note published on Friday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on the stock. Stephens decreased their price target on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. JMP Securities dropped their price target on Evolent Health from $27.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Friday, January 10th. Canaccord Genuity Group reduced their price objective on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup dropped their target price on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, KeyCorp initiated coverage on shares of Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Evolent Health currently has an average rating of “Buy” and an average price target of $18.54.

Evolent Health Price Performance

NYSE EVH opened at $10.11 on Friday. The firm’s fifty day simple moving average is $11.45 and its two-hundred day simple moving average is $20.39. The firm has a market capitalization of $1.18 billion, a P/E ratio of -11.10 and a beta of 1.45. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a 12-month low of $9.74 and a 12-month high of $35.00.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, November 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.38). The business had revenue of $621.40 million for the quarter, compared to analyst estimates of $625.58 million. Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. During the same period in the prior year, the company earned $0.19 earnings per share. Analysts forecast that Evolent Health will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Large investors have recently bought and sold shares of the business. Royce & Associates LP purchased a new stake in shares of Evolent Health during the third quarter worth approximately $7,070,000. Foundry Partners LLC purchased a new stake in Evolent Health during the 3rd quarter valued at about $10,042,000. Salem Investment Counselors Inc. raised its holdings in Evolent Health by 53.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock valued at $3,939,000 after acquiring an additional 121,369 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Evolent Health by 140.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock worth $11,946,000 after purchasing an additional 246,400 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Evolent Health by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock valued at $1,469,000 after purchasing an additional 8,552 shares in 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.