Evolent Health (NYSE:EVH) Given New $12.00 Price Target at JPMorgan Chase & Co.

Evolent Health (NYSE:EVH) had its price target cut by JPMorgan Chase & Co. from $13.00 to $12.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

EVH has been the subject of a number of other research reports. Canaccord Genuity Group lowered their price target on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Royal Bank of Canada dropped their price target on Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, January 14th. Barclays reduced their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. JMP Securities reaffirmed a “market outperform” rating and issued a $12.00 target price on shares of Evolent Health in a research report on Friday, February 14th. Finally, Citigroup cut their target price 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. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $17.71.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $9.06 on Monday. The stock has a market capitalization of $1.06 billion, a P/E ratio of -11.04 and a beta of 1.49. Evolent Health has a one year low of $8.35 and a one year high of $34.51. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The business’s 50 day simple moving average is $10.33 and its two-hundred day simple moving average is $17.45.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.35). The firm had revenue of $646.54 million during the quarter, compared to analysts’ expectations of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. Analysts forecast that Evolent Health will post 0.08 EPS for the current year.

Insider Activity at Evolent Health

In other news, President Daniel Joseph Mccarthy acquired 11,040 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $9.01 per share, with a total value of $99,470.40. Following the transaction, the president now owns 389,004 shares of the company’s stock, valued at $3,504,926.04. This trade represents a 2.92 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Diane Holder bought 2,735 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was purchased at an average cost of $9.33 per share, with a total value of $25,517.55. Following the completion of the acquisition, the director now directly owns 70,584 shares of the company’s stock, valued at approximately $658,548.72. The trade was a 4.03 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 74,000 shares of company stock valued at $666,315 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Evolent Health

Several institutional investors have recently added to or reduced their stakes in the business. State of Wyoming purchased a new position in shares of Evolent Health in the fourth quarter worth $95,000. Sea Cliff Partners Management LP purchased a new position in Evolent Health in the 4th quarter worth about $9,338,000. Silvercrest Asset Management Group LLC lifted its stake in Evolent Health by 37.3% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,371,053 shares of the technology company’s stock valued at $15,424,000 after acquiring an additional 372,793 shares during the period. Raiffeisen Bank International AG purchased a new stake in shares of Evolent Health during the 4th quarter valued at about $988,000. Finally, Redwood Investment Management LLC bought a new stake in shares of Evolent Health in the fourth quarter worth approximately $468,000.

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.