Evolent Health (NYSE:EVH) Sets New 1-Year Low After Analyst Downgrade

Evolent Health, Inc (NYSE:EVH)’s share price hit a new 52-week low during trading on Tuesday after Truist Financial lowered their price target on the stock from $16.00 to $10.00. Truist Financial currently has a buy rating on the stock. Evolent Health traded as low as $4.90 and last traded at $4.95, with a volume of 5822583 shares changing hands. The stock had previously closed at $4.96.

Several other research firms also recently commented on EVH. Piper Sandler lifted their price objective on shares of Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Citizens Jmp lowered their price target on Evolent Health from $13.00 to $11.00 and set a “market outperform” rating for the company in a research report on Monday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Evolent Health in a research note on Wednesday, October 8th. Stephens reissued an “equal weight” rating and issued a $9.00 price objective on shares of Evolent Health in a report on Wednesday, September 24th. Finally, 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 report on Friday, November 7th. Twelve 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.46.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC acquired a new stake in shares of Evolent Health in the fourth quarter valued at about $3,927,000. Teacher Retirement System of Texas acquired a new stake in shares of Evolent Health during the 1st quarter worth about $137,000. Signaturefd LLC raised its stake 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 period. Hussman Strategic Advisors Inc. lifted its stake in Evolent Health by 66.7% during the first quarter. Hussman Strategic Advisors Inc. now owns 105,000 shares of the technology company’s stock worth $994,000 after purchasing an additional 42,000 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Evolent Health by 48.9% in the first quarter. Allianz Asset Management GmbH now owns 68,541 shares of the technology company’s stock valued at $649,000 after purchasing an additional 22,514 shares in the last quarter.

Evolent Health Trading Up 1.6%

The company’s 50 day simple moving average is $7.98 and its 200 day simple moving average is $8.99. The firm has a market cap of $591.07 million, a price-to-earnings ratio of -3.12 and a beta of 0.58. 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 (NYSE:EVH) last released 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 firm had revenue of $427.70 million during the quarter. As a group, research analysts expect that Evolent Health, Inc will post 0.08 earnings per share for the current fiscal year.

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.