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

Evolent Health, Inc (NYSE:EVH)’s stock price reached a new 52-week low during trading on Tuesday after Oppenheimer lowered their price target on the stock from $18.00 to $12.00. Oppenheimer currently has an outperform rating on the stock. Evolent Health traded as low as $4.90 and last traded at $4.95, with a volume of 5822583 shares traded. The stock had previously closed at $4.96.

A number of other brokerages also recently issued reports on EVH. Citizens Jmp decreased their price target on Evolent Health from $13.00 to $11.00 and set a “market outperform” rating for the company in a report on Monday. BTIG Research decreased their target price on Evolent Health from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price target on shares of Evolent Health in a research note on Tuesday, September 9th. Stephens reiterated an “equal weight” rating and issued a $9.00 price target on shares of Evolent Health in a research note on Wednesday, September 24th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Evolent Health in a research report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Hedge Funds Weigh In On Evolent Health

Several institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its position in 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 period. Banque Cantonale Vaudoise purchased a new stake in shares of Evolent Health during the first quarter worth approximately $25,000. Parallel Advisors LLC lifted its holdings in shares of Evolent Health by 82.6% during the second quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock worth $39,000 after purchasing an additional 1,577 shares during the period. Strs Ohio purchased a new position in Evolent Health in the 1st quarter valued at $47,000. Finally, Headlands Technologies LLC purchased a new position in Evolent Health in the 2nd quarter valued at $58,000.

Evolent Health Stock Performance

The company has a market cap of $520.92 million, a PE ratio of -2.75 and a beta of 0.58. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50-day simple moving average is $7.88 and its 200 day simple moving average is $8.96.

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

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.