Evolent Health, Inc (NYSE:EVH – Get Free Report)’s stock price was down 11.5% during trading on Thursday . The stock traded as low as $5.06 and last traded at $4.9320. Approximately 420,571 shares changed hands during trading, a decline of 85% from the average daily volume of 2,840,544 shares. The stock had previously closed at $5.57.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Needham & Company LLC raised their target price on shares of Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. Canaccord Genuity Group boosted their price target on Evolent Health from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday. Truist Financial downgraded Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research note on Tuesday, June 30th. Finally, Citigroup reaffirmed a “sell” rating and set a $6.75 price objective (up from $5.50) on shares of Evolent Health in a research report on Thursday. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.25.
Read Our Latest Report on Evolent Health
Evolent Health Stock Performance
Evolent Health (NYSE:EVH – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The business had revenue of $496.25 million for the quarter, compared to analysts’ expectations of $534.00 million. During the same period in the prior year, the firm posted $0.06 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts anticipate that Evolent Health, Inc will post -0.16 EPS for the current fiscal year.
Institutional Trading of Evolent Health
Large investors have recently made changes to their positions in the stock. Brighton Jones LLC bought a new position in Evolent Health during the fourth quarter valued at approximately $3,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Evolent Health by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock worth $1,217,000 after purchasing an additional 3,572 shares during the period. Goldman Sachs Group Inc. raised its stake in Evolent Health by 162.2% during 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 buying an additional 1,754,520 shares during the last quarter. Caxton Associates LLP purchased a new stake in Evolent Health during the 1st quarter valued at $252,000. Finally, Strs Ohio bought a new position in shares of Evolent Health during the 1st quarter valued at $47,000.
About Evolent Health
Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.
The company’s core offerings include care management solutions, population health analytics and clinical advisory services.
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