Evolent Health (NYSE:EVH) Shares Gap Down on Analyst Downgrade

Evolent Health, Inc. (NYSE:EVHGet Free Report) shares gapped down before the market opened on Friday after Oppenheimer lowered their price target on the stock from $28.00 to $18.00. The stock had previously closed at $10.18, but opened at $9.97. Oppenheimer currently has an outperform rating on the stock. Evolent Health shares last traded at $10.14, with a volume of 80,949 shares changing hands.

EVH has been the subject of a number of other reports. Needham & Company LLC began coverage on shares of Evolent Health in a research report on Friday, January 10th. They set a “buy” rating and a $15.00 target price for the company. Barclays reduced their price objective on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Truist Financial decreased their target price on Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday. BTIG Research dropped their price target on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Finally, Citigroup cut their price target on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, January 10th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $18.54.

Check Out Our Latest Stock Analysis on Evolent Health

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EVH. Dimensional Fund Advisors LP boosted its stake in Evolent Health by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company’s stock valued at $45,286,000 after buying an additional 121,770 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Evolent Health in the 2nd quarter valued at about $61,000. Marshall Wace LLP purchased a new stake in shares of Evolent Health in the 2nd quarter valued at about $1,231,000. Point72 DIFC Ltd bought a new stake in shares of Evolent Health during the 2nd quarter valued at about $148,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Evolent Health during the second quarter worth about $439,000.

Evolent Health Stock Performance

The company’s 50-day moving average is $11.45 and its two-hundred day moving average is $20.38. The company has a market capitalization of $1.18 billion, a P/E ratio of -11.10 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Evolent Health (NYSE:EVHGet Free Report) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.38). Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. The company had revenue of $621.40 million during the quarter, compared to the consensus estimate of $625.58 million. During the same period in the previous year, the company earned $0.19 EPS. Equities analysts anticipate that Evolent Health, Inc. will post 0.26 earnings per share for the current fiscal year.

Evolent Health Company Profile

(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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