Oppenheimer Lowers Evolent Health (NYSE:EVH) Price Target to $6.00

Evolent Health (NYSE:EVH) had its target price dropped by stock analysts at Oppenheimer from $12.00 to $6.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target indicates a potential upside of 70.94% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Citizens Jmp cut their price target on Evolent Health from $11.00 to $10.00 and set a “market outperform” rating on the stock in a research note on Tuesday, January 6th. Zacks Research upgraded shares of Evolent Health from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Citigroup cut their target price on shares of Evolent Health from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evolent Health in a research report on Monday, December 29th. Finally, Stephens upgraded shares of Evolent Health from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective on the stock in a research note on Thursday, November 13th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Evolent Health presently has a consensus rating of “Moderate Buy” and an average price target of $6.04.

Evolent Health Stock Performance

Shares of NYSE:EVH opened at $3.51 on Monday. The firm’s 50 day simple moving average is $3.47 and its 200-day simple moving average is $5.67. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.31 and a current ratio of 1.31. Evolent Health has a one year low of $2.50 and a one year high of $12.06. The firm has a market cap of $391.72 million, a PE ratio of -0.68 and a beta of 0.24.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Tuesday, February 24th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $468.72 million during the quarter, compared to analyst estimates of $468.48 million. Evolent Health had a positive return on equity of 1.49% and a negative net margin of 28.49%.Evolent Health’s quarterly revenue was down 27.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.02) earnings per share. As a group, equities analysts predict that Evolent Health will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its holdings in Evolent Health by 88.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock worth $29,000 after purchasing an additional 1,194 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in Evolent Health by 4,000.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock worth $35,000 after buying an additional 4,000 shares during the last quarter. Strs Ohio purchased a new position in Evolent Health during the 1st quarter worth $47,000. Headlands Technologies LLC acquired a new position in Evolent Health during the 2nd quarter valued at about $58,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Evolent Health in the third quarter valued at about $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.