Citizens Jmp Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price objective cut by equities research analysts at Citizens Jmp from $11.00 to $10.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the technology company’s stock. Citizens Jmp’s price objective would indicate a potential upside of 152.21% from the company’s previous close.

A number of other analysts have also issued reports on the company. Stephens upgraded Evolent Health from an “equal weight” rating to an “overweight” rating and set a $7.00 target price for the company in a report on Thursday, November 13th. JPMorgan Chase & Co. reduced their price objective on Evolent Health from $13.00 to $7.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Zacks Research raised shares of Evolent Health from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Truist Financial cut their target price on shares of Evolent Health from $16.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Finally, BMO Capital Markets started coverage on shares of Evolent Health in a report on Thursday, November 13th. They set an “outperform” rating and a $7.00 price target on the stock. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.96.

Evolent Health Trading Up 1.9%

Shares of EVH opened at $3.97 on Tuesday. The business’s 50-day moving average price is $4.51 and its 200 day moving average price is $7.70. The stock has a market capitalization of $442.49 million, a P/E ratio of -2.51 and a beta of 0.26. Evolent Health has a 1-year low of $3.49 and a 1-year high of $12.98. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.25.

Evolent Health (NYSE:EVH) last announced its earnings results on Tuesday, June 4th. The technology company reported $0.21 EPS for the quarter. Evolent Health had a negative net margin of 6.24% and a positive return on equity of 1.79%. The company had revenue of $427.70 million during the quarter. Analysts expect that Evolent Health will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, Director Brendan B. Springstubb acquired 10,000 shares of Evolent Health stock in a transaction that occurred on Tuesday, November 18th. The stock was acquired at an average price of $3.82 per share, with a total value of $38,200.00. Following the purchase, the director owned 58,821 shares in the company, valued at approximately $224,696.22. This trade represents a 20.48% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Evolent Health

A number of institutional investors and hedge funds have recently made changes to their positions in EVH. Nisa Investment Advisors LLC increased its holdings in shares of Evolent Health by 88.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after acquiring an additional 1,194 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Evolent Health by 4,000.0% during the third quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock worth $35,000 after purchasing an additional 4,000 shares during the period. Parallel Advisors LLC grew its holdings in Evolent Health by 82.6% during the second quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock valued at $39,000 after purchasing an additional 1,577 shares during the last quarter. Strs Ohio bought a new position in shares of Evolent Health in the first quarter valued at approximately $47,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Evolent Health in the third quarter worth $51,000.

Evolent Health Company Profile

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.