Evolent Health (NYSE:EVH) Reaches New 12-Month Low at $23.29

Evolent Health, Inc. (NYSE:EVHGet Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $23.29 and last traded at $23.54, with a volume of 130075 shares. The stock had previously closed at $23.55.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Canaccord Genuity Group reduced their target price on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, May 10th. JPMorgan Chase & Co. decreased their target price on shares of Evolent Health from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. Citigroup began coverage on Evolent Health in a research report on Monday, April 22nd. They issued a “buy” rating and a $40.00 price target for the company. JMP Securities lowered their price objective on Evolent Health from $38.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Friday, May 10th. Finally, Oppenheimer started coverage on Evolent Health in a research note on Friday, March 1st. They issued an “outperform” rating and a $45.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.00.

View Our Latest Research Report on Evolent Health

Evolent Health Stock Down 1.1 %

The firm has a 50 day simple moving average of $29.62 and a 200-day simple moving average of $30.19. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.02.

Evolent Health (NYSE:EVHGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.13. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. The business had revenue of $556.06 million during the quarter, compared to analysts’ expectations of $541.87 million. As a group, equities research analysts anticipate that Evolent Health, Inc. will post 0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Evolent Health by 96.1% in the 4th quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock valued at $274,584,000 after purchasing an additional 4,073,959 shares in the last quarter. RA Capital Management L.P. raised its stake in Evolent Health by 125.0% in the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock valued at $188,088,000 after buying an additional 3,187,000 shares in the last quarter. Norges Bank purchased a new stake in Evolent Health during the 4th quarter worth about $43,759,000. Point72 Asset Management L.P. boosted its position in shares of Evolent Health by 81.3% during the 4th quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock worth $88,355,000 after acquiring an additional 1,199,400 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC boosted its position in shares of Evolent Health by 126.5% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 565,625 shares of the technology company’s stock worth $18,547,000 after acquiring an additional 315,875 shares in the last quarter.

About Evolent Health

(Get Free Report)

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.

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