JPMorgan Chase & Co. Cuts Evolent Health (NYSE:EVH) Price Target to $7.00

Evolent Health (NYSE:EVH) had its price objective decreased by JPMorgan Chase & Co. from $13.00 to $7.00 in a research note released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

Several other equities research analysts also recently commented on the company. Stephens upgraded 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, November 13th. Canaccord Genuity Group reduced their price target on shares of Evolent Health from $16.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Zacks Research upgraded shares of Evolent Health from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Oppenheimer dropped their price objective on shares of Evolent Health from $18.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 12th. Finally, Piper Sandler boosted their target price on shares of Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

Evolent Health Trading Down 11.4%

EVH opened at $3.55 on Monday. The company has a fifty day moving average price of $7.31 and a two-hundred day moving average price of $8.75. Evolent Health has a 1-year low of $3.49 and a 1-year high of $13.61. The company has a market cap of $395.63 million, a P/E ratio of -2.20 and a beta of 0.58. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72.

Evolent Health (NYSE:EVH) last issued its earnings results on Tuesday, June 4th. The technology company reported $0.21 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 during the quarter. Analysts predict that Evolent Health will post 0.08 EPS for the current fiscal year.

Insider Activity

In other news, Director Brendan B. Springstubb bought 10,000 shares of Evolent Health stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average price of $3.82 per share, for a total transaction of $38,200.00. Following the purchase, the director directly owned 58,821 shares in the company, valued at $224,696.22. The trade was a 20.48% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Durable Capital Partners LP purchased a new position in shares of Evolent Health in the 2nd quarter worth approximately $72,326,000. Rubicon Founders LLC bought a new stake in Evolent Health during the third quarter worth $49,204,000. 8 Knots Management LLC purchased a new position in Evolent Health in the second quarter worth $32,802,000. Eventide Asset Management LLC boosted its position in Evolent Health by 54.0% in the third quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company’s stock worth $53,246,000 after purchasing an additional 2,205,659 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Evolent Health by 162.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after purchasing an additional 1,754,520 shares during the period.

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.