Evolent Health (NYSE:EVH) PT Lowered to $52.00

Evolent Health (NYSE:EVH) had its target price lowered by JPMorgan Chase & Co. from $53.00 to $52.00 in a report released on Friday, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

EVH has been the subject of several other reports. JMP Securities increased their price objective on shares of Evolent Health from $37.00 to $38.00 and gave the company a market outperform rating in a report on Friday, February 23rd. Canaccord Genuity Group decreased their price objective on shares of Evolent Health from $47.00 to $45.00 and set a buy rating for the company in a report on Friday, February 23rd. Royal Bank of Canada decreased their price objective on shares of Evolent Health from $44.00 to $42.00 and set an outperform rating for the company in a report on Tuesday, November 28th. Wedbush reiterated an outperform rating on shares of Evolent Health in a report on Thursday, November 16th. Finally, Barclays started coverage on shares of Evolent Health in a report on Wednesday, January 3rd. They set an overweight rating and a $39.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $42.80.

Evolent Health Stock Performance

NYSE EVH traded down $0.48 on Friday, hitting $32.17. The stock had a trading volume of 685,921 shares, compared to its average volume of 1,041,916. Evolent Health has a one year low of $23.33 and a one year high of $36.70. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -25.63 and a beta of 1.54. The company’s 50-day moving average is $31.73 and its two-hundred day moving average is $29.37.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, February 22nd. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.02 by $0.13. Evolent Health had a negative net margin of 5.76% and a positive return on equity of 6.60%. The firm had revenue of $556.06 million during the quarter, compared to analysts’ expectations of $541.87 million. On average, analysts expect that Evolent Health will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Evolent Health by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 10,821,331 shares of the technology company’s stock worth $357,429,000 after buying an additional 226,691 shares in the last quarter. Wellington Management Group LLP lifted its position in 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 worth $274,584,000 after buying an additional 4,073,959 shares in the last quarter. BlackRock Inc. lifted its position in Evolent Health by 9.6% in the 2nd quarter. BlackRock Inc. now owns 7,595,916 shares of the technology company’s stock worth $230,156,000 after buying an additional 667,658 shares in the last quarter. Rock Springs Capital Management LP lifted its position in Evolent Health by 1.6% in the 3rd quarter. Rock Springs Capital Management LP now owns 3,865,000 shares of the technology company’s stock worth $105,244,000 after buying an additional 61,500 shares in the last quarter. Finally, Bellevue Group AG lifted its position in Evolent Health by 57.4% in the 2nd quarter. Bellevue Group AG now owns 3,448,322 shares of the technology company’s stock worth $104,484,000 after buying an additional 1,257,175 shares in the last quarter.

About Evolent Health

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.