Truist Financial Lowers Evolent Health (NYSE:EVH) Price Target to $32.00

Evolent Health (NYSE:EVHGet Rating) had its target price cut by research analysts at Truist Financial to $32.00 in a report issued on Thursday, Stock Target Advisor reports. Truist Financial’s target price points to a potential upside of 16.96% from the company’s previous close.

A number of other equities analysts have also commented on EVH. StockNews.com lowered Evolent Health from a “hold” rating to a “sell” rating in a research note on Friday, November 4th. Royal Bank of Canada lifted their price objective on Evolent Health from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd. Piper Sandler dropped their price target on Evolent Health from $40.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, November 4th. Cowen boosted their price target on Evolent Health to $52.00 in a research note on Monday, July 25th. Finally, Canaccord Genuity Group dropped their price target on Evolent Health from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, October 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Evolent Health has a consensus rating of “Moderate Buy” and an average target price of $45.70.

Evolent Health Stock Performance

NYSE:EVH opened at $27.36 on Thursday. The stock’s 50-day moving average is $31.89 and its 200-day moving average is $31.95. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market cap of $2.77 billion, a P/E ratio of -182.39 and a beta of 1.60. Evolent Health has a 1-year low of $21.36 and a 1-year high of $39.78.

Evolent Health (NYSE:EVHGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The technology company reported $0.52 EPS for the quarter. The company had revenue of $352.59 million for the quarter, compared to analyst estimates of $354.57 million. Evolent Health had a positive return on equity of 8.83% and a negative net margin of 1.11%. Equities research analysts anticipate that Evolent Health will post 0.6 earnings per share for the current year.

Insider Transactions at Evolent Health

In other news, Director Frank J. Williams sold 110,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $29.32, for a total transaction of $3,225,200.00. Following the transaction, the director now directly owns 626,479 shares of the company’s stock, valued at $18,368,364.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Frank J. Williams sold 110,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $29.32, for a total transaction of $3,225,200.00. Following the completion of the sale, the director now owns 626,479 shares in the company, valued at $18,368,364.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frank J. Williams sold 50,000 shares of the company’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $37.21, for a total value of $1,860,500.00. Following the sale, the director now owns 752,434 shares of the company’s stock, valued at approximately $27,998,069.14. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Evolent Health

Several institutional investors have recently bought and sold shares of EVH. Comerica Bank bought a new position in Evolent Health in the 1st quarter valued at $1,398,000. Nisa Investment Advisors LLC grew its stake in Evolent Health by 67.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,250 shares of the technology company’s stock valued at $73,000 after purchasing an additional 910 shares during the period. State of New Jersey Common Pension Fund D grew its stake in Evolent Health by 13.5% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 110,357 shares of the technology company’s stock valued at $3,565,000 after purchasing an additional 13,139 shares during the period. Arizona State Retirement System grew its stake in Evolent Health by 2.9% in the 1st quarter. Arizona State Retirement System now owns 24,169 shares of the technology company’s stock valued at $781,000 after purchasing an additional 681 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in Evolent Health by 23.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 35,999 shares of the technology company’s stock valued at $1,163,000 after purchasing an additional 6,761 shares during the period. Institutional investors own 96.81% of the company’s stock.

Evolent Health Company Profile

(Get Rating)

Evolent Health, Inc, a healthcare company, through its subsidiary, Evolent Health LLC, provides clinical and administrative solutions to payers and providers in the United States. It operates in two segments, Evolent Health Services and Clinical Solutions. The Evolent Health Services segment provides an integrated administrative and clinical platform for health plan administration and population health management.

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