Evolent Health (NYSE:EVH) Cut to Sector Weight at KeyCorp

KeyCorp lowered shares of Evolent Health (NYSE:EVH) from an overweight rating to a sector weight rating in a research note released on Wednesday, MarketBeat reports.

Other analysts have also recently issued reports about the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Evolent Health in a report on Monday, December 29th. BMO Capital Markets initiated coverage on Evolent Health in a research report on Thursday, November 13th. They set an “outperform” rating and a $7.00 price objective for the company. Canaccord Genuity Group decreased their target price on Evolent Health from $16.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Zacks Research raised Evolent Health from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Citizens Jmp decreased their price target on Evolent Health from $11.00 to $10.00 and set a “market outperform” rating for the company in a research report on Tuesday, January 6th. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Evolent Health has a consensus rating of “Moderate Buy” and a consensus price target of $6.50.

Evolent Health Trading Down 2.0%

Shares of EVH stock opened at $3.26 on Wednesday. The stock has a 50-day simple moving average of $3.49 and a 200 day simple moving average of $5.80. The stock has a market capitalization of $363.26 million, a P/E ratio of -0.63 and a beta of 0.27. Evolent Health has a fifty-two week low of $2.50 and a fifty-two week high of $12.06. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.25.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Tuesday, February 24th. The technology company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $468.72 million during the quarter, compared to the consensus estimate of $468.48 million. Evolent Health had a negative net margin of 28.49% and a positive return on equity of 1.30%. Evolent Health’s revenue was down 27.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.02) EPS. On average, sell-side analysts expect that Evolent Health will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EVH. Alpine Global Management LLC purchased a new stake in Evolent Health in the 4th quarter worth about $175,000. Aristides Capital LLC acquired a new position in shares of Evolent Health in the 4th quarter valued at about $195,000. Virtu Financial LLC purchased a new stake in shares of Evolent Health in the fourth quarter worth approximately $106,000. Invesco Ltd. lifted its position in shares of Evolent Health by 30.4% in the fourth quarter. Invesco Ltd. now owns 392,282 shares of the technology company’s stock worth $1,569,000 after purchasing an additional 91,370 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Evolent Health during the fourth quarter worth approximately $109,000.

More Evolent Health News

Here are the key news stories impacting Evolent Health this week:

• Positive Sentiment: BTIG set a new $8.00 price target for EVH, signaling confidence that the stock has upside from current levels. Evolent Health (NYSE:EVH) Given New $8.00 Price Target at BTIG Research
• Positive Sentiment: UBS lowered its target to $5.00 but kept a “buy” rating, implying upside (reported as ~54% above the then-current price). UBS lowers price target to $5.00
• Positive Sentiment: Citigroup cut its target to $4.00 but maintained a “buy” rating, which suggests analysts still see recovery potential despite near-term weakness. Citigroup lowers price target to $4.00
• Positive Sentiment: Seeking Alpha published a bullish-themed piece arguing EVH is “cheap, levered, but ready to rebound,” which can attract value-oriented buyers. Evolent Health: Cheap, Levered, But Ready To Rebound
• Neutral Sentiment: Evolent announced executive participation in upcoming investor conferences with live webcasts — useful for transparency but unlikely to move the stock materially on its own. Evolent to Participate in Upcoming Investor Conferences
• Neutral Sentiment: Yahoo Finance ran a roundup noting a sharp intraday move earlier; such coverage increases attention/volatility but doesn’t change fundamentals. Evolent Health (EVH) Shares Skyrocket, What You Need To Know
• Neutral Sentiment: Royal Bank of Canada set a $3.00 target — a lower valuation point that may anchor some expectations but was published alongside other divergent targets. Evolent Health (NYSE:EVH) Given New $3.00 Price Target at Royal Bank Of Canada
• Neutral Sentiment: Needham published a $4.00 price target; another mid-range projection adding to the wide spread of analyst views. Evolent Health (NYSE:EVH) Given New $4.00 Price Target at Needham & Company LLC
• Negative Sentiment: KeyCorp lowered EVH to “Sector Weight” (a downgrade), which is a clear negative signal and likely contributed to selling pressure. Evolent Health (NYSE:EVH) Rating Lowered to “Sector Weight” at KeyCorp

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.