Evolent Health (NYSE:EVH) Price Target Cut to $9.00 by Analysts at Canaccord Genuity Group

Evolent Health (NYSE:EVH) had its price objective reduced by Canaccord Genuity Group from $16.00 to $9.00 in a research note released on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the technology company’s stock.

Several other equities analysts also recently weighed in on EVH. Citizens Jmp dropped their target price on Evolent Health from $13.00 to $11.00 and set a “market outperform” rating for the company in a research report on Monday, November 10th. Zacks Research raised shares of Evolent Health from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Stephens upgraded shares of Evolent Health from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a report on Thursday. Piper Sandler increased their target price on shares of Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Evolent Health in a research note on Wednesday, October 8th. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.86.

Evolent Health Trading Up 0.1%

Shares of EVH stock traded up $0.01 during trading hours on Friday, hitting $4.17. The company had a trading volume of 6,197,610 shares, compared to its average volume of 2,846,913. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $489.42 million, a PE ratio of -2.59 and a beta of 0.58. The company’s fifty day moving average is $7.66 and its 200 day moving average is $8.89. Evolent Health has a fifty-two week low of $4.01 and a fifty-two week high of $13.61.

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 company had revenue of $427.70 million for the quarter. Research analysts expect that Evolent Health will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Several institutional investors have recently modified their holdings of the company. Brighton Jones LLC purchased a new position in Evolent Health in the fourth quarter valued at $3,927,000. Teacher Retirement System of Texas acquired a new position in shares of Evolent Health during the 1st quarter worth about $137,000. Signaturefd LLC increased its holdings in shares of Evolent Health by 400.6% in the 1st quarter. Signaturefd LLC now owns 7,043 shares of the technology company’s stock valued at $67,000 after acquiring an additional 5,636 shares during the last quarter. Hussman Strategic Advisors Inc. raised its position in shares of Evolent Health by 66.7% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 105,000 shares of the technology company’s stock worth $994,000 after acquiring an additional 42,000 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Evolent Health by 48.9% during the first quarter. Allianz Asset Management GmbH now owns 68,541 shares of the technology company’s stock worth $649,000 after purchasing an additional 22,514 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.