BTIG Research Cuts Evolent Health (NYSE:EVH) Price Target to $16.00

Evolent Health (NYSE:EVH) had its target price lowered by BTIG Research from $20.00 to $16.00 in a research note issued to investors on Friday morning,Benzinga reports. BTIG Research currently has a buy rating on the technology company’s stock.

Several other research firms have also recently commented on EVH. Truist Financial raised their target price on Evolent Health from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Evolent Health in a report on Wednesday, October 8th. Stephens reissued an “equal weight” rating and issued a $9.00 price target on shares of Evolent Health in a research report on Wednesday, September 24th. Piper Sandler increased their price target on shares of Evolent Health from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Evolent Health in a research report on Tuesday, September 9th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.21.

Evolent Health Stock Up 2.1%

Shares of NYSE EVH opened at $5.07 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.01 and a quick ratio of 1.01. Evolent Health has a 1 year low of $4.92 and a 1 year high of $15.56. The company has a 50 day simple moving average of $8.16 and a 200 day simple moving average of $9.04. The firm has a market cap of $595.18 million, a PE ratio of -3.12 and a beta of 0.58.

Evolent Health (NYSE:EVH) last announced its earnings results on Tuesday, June 4th. The technology company reported $0.21 earnings per share (EPS) for the quarter. Evolent Health had a positive return on equity of 1.83% and a negative net margin of 5.94%.The business had revenue of $427.70 million during the quarter. On average, research analysts forecast that Evolent Health will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its holdings in shares of Evolent Health by 88.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock worth $29,000 after acquiring an additional 1,194 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Evolent Health in the 1st quarter worth about $25,000. Parallel Advisors LLC increased its position in shares of Evolent Health by 82.6% during the 2nd quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock valued at $39,000 after purchasing an additional 1,577 shares during the last quarter. Strs Ohio purchased a new position in shares of Evolent Health during the 1st quarter valued at about $47,000. Finally, Headlands Technologies LLC purchased a new stake in Evolent Health in the second quarter worth approximately $58,000.

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.