Evolent Health (NYSE:EVH) Reaches New 1-Year Low – Here’s Why

Evolent Health, Inc. (NYSE:EVH) shares reached a new 52-week low on Thursday . The company traded as low as $9.74 and last traded at $9.79, with a volume of 2041320 shares trading hands. The stock had previously closed at $10.37.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EVH shares. Truist Financial reduced their target price on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. KeyCorp began coverage on Evolent Health in a research report on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price for the company. Royal Bank of Canada dropped their price target on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. JMP Securities cut their price target on Evolent Health from $27.00 to $18.00 and set a “market outperform” rating for the company in a research note on Friday, January 10th. Finally, Barclays lowered their price objective on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $18.38.

Evolent Health Stock Performance

The business’s fifty day moving average price is $11.17 and its 200-day moving average price is $19.84. 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 stock has a market capitalization of $1.14 billion, a PE ratio of -10.75 and a beta of 1.45.

Evolent Health (NYSE:EVH) last posted 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 firm had revenue of $621.40 million during the quarter, compared to analysts’ expectations of $625.58 million. Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. During the same quarter in the prior year, the company earned $0.19 earnings per share. As a group, equities research analysts expect that Evolent Health, Inc. will post 0.24 EPS for the current year.

Institutional Trading of Evolent Health

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