Evolent Health (NYSE:EVH) Sets New 1-Year Low on Analyst Downgrade

Evolent Health, Inc. (NYSE:EVH) shares hit a new 52-week low during mid-day trading on Thursday after Citigroup lowered their price target on the stock from $33.00 to $21.00. Citigroup currently has a buy rating on the stock. Evolent Health traded as low as $12.33 and last traded at $12.44, with a volume of 1120664 shares. The stock had previously closed at $12.75.

A number of other brokerages also recently issued reports on EVH. Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $38.00 to $16.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Truist Financial reissued a “buy” rating and set a $33.00 price objective on shares of Evolent Health in a research report on Tuesday, August 27th. JMP Securities cut their price objective on 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, Barclays cut their price objective on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a hold rating, ten have issued 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 a consensus rating of “Buy” and an average price target of $29.50.

Insider Activity at Evolent Health

In other news, CEO Seth Blackley sold 187,904 shares of Evolent Health stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the transaction, the chief executive officer now owns 411,924 shares in the company, valued at approximately $12,357,720. This trade represents a 31.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Jonathan Weinberg sold 42,140 shares of Evolent Health stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total value of $1,314,768.00. Following the completion of the transaction, the general counsel now owns 167,027 shares of the company’s stock, valued at $5,211,242.40. The trade was a 20.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 307,291 shares of company stock worth $9,290,385 in the last three months. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Evolent Health

Institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in Evolent Health during the first quarter worth approximately $46,000. Covestor Ltd increased its position in Evolent Health by 138.1% during the third 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 period. GAMMA Investing LLC increased its position in Evolent Health by 5,365.5% during the third 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 period. Quarry LP acquired a new position in Evolent Health during the second quarter worth approximately $32,000. Finally, Canada Pension Plan Investment Board acquired a new position in Evolent Health during the second quarter worth approximately $61,000.

Evolent Health Stock Performance

The company has a market cap of $1.47 billion, a price-to-earnings ratio of -13.92 and a beta of 1.58. The firm has a 50-day simple moving average of $25.47 and a 200 day simple moving average of $24.45. The company has a quick ratio of 1.08, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

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.