Citigroup Issues Pessimistic Forecast for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price objective dropped by equities researchers at Citigroup from $33.00 to $21.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup’s target price would suggest a potential upside of 65.75% from the stock’s current price.

EVH has been the subject of a number of other reports. Oppenheimer decreased their target price on Evolent Health from $45.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. JMP Securities cut their price objective on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Barclays lowered their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a report on Monday. KeyCorp assumed coverage on Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price target on the stock. Finally, Truist Financial reissued a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $29.50.

Evolent Health Trading Down 0.6 %

Shares of NYSE:EVH opened at $12.67 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.08 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $25.47 and a 200-day moving average of $24.45. Evolent Health has a one year low of $12.31 and a one year high of $35.00.

Insider Activity

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the transaction, the chief executive officer now directly owns 411,924 shares of the company’s stock, valued at $12,357,720. This trade represents a 31.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the completion of the sale, the president now directly owns 198,809 shares in the company, valued at approximately $6,141,210.01. This represents a 10.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 307,291 shares of company stock valued at $9,290,385. 1.60% of the stock is owned by company insiders.

Institutional Trading of Evolent Health

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Evolent Health in the first quarter valued at $46,000. Covestor Ltd increased its stake in shares of Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $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 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,556 shares during the period. Quarry LP bought a new position in Evolent Health during the 2nd quarter worth approximately $32,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Evolent Health in the 2nd quarter valued at $61,000.

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.