Evolent Health (NYSE:EVH) Given Sell Rating at Citigroup

Citigroup restated their sell rating on shares of Evolent Health (NYSE:EVH) in a research note released on Thursday morning, Marketbeat reports. They currently have a $6.75 target price on the technology company’s stock, up from their previous target price of $5.50.

Other research analysts also recently issued reports about the stock. Canaccord Genuity Group lifted their price target on shares of Evolent Health from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday. Needham & Company LLC upped their price objective on shares of Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Truist Financial lowered shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a report on Tuesday, June 30th. Finally, Weiss Ratings upgraded shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Evolent Health has an average rating of “Moderate Buy” and an average price target of $6.25.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $4.64 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 2.46. The firm has a market capitalization of $522.47 million, a PE ratio of -0.98 and a beta of 0.76. The business’s 50-day moving average price is $4.84 and its 200-day moving average price is $3.76. Evolent Health has a 12 month low of $2.10 and a 12 month high of $10.35.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $496.25 million during the quarter, compared to the consensus estimate of $534.00 million. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.Evolent Health’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. Sell-side analysts forecast that Evolent Health will post -0.16 EPS for the current fiscal year.

Institutional Trading of Evolent Health

Several hedge funds and other institutional investors have recently bought and sold shares of EVH. Royal Bank of Canada grew its holdings in shares of Evolent Health by 51.6% in the first quarter. Royal Bank of Canada now owns 25,161 shares of the technology company’s stock worth $57,000 after purchasing an additional 8,563 shares during the last quarter. Maverick Capital Ltd. boosted its position in Evolent Health by 1.3% during the 1st quarter. Maverick Capital Ltd. now owns 2,572,763 shares of the technology company’s stock valued at $5,866,000 after buying an additional 32,833 shares during the period. Sei Investments Co. boosted its position in Evolent Health by 50.8% during the 1st quarter. Sei Investments Co. now owns 302,281 shares of the technology company’s stock valued at $689,000 after buying an additional 101,867 shares during the period. State of Wyoming grew its holdings in Evolent Health by 54.7% in the 1st quarter. State of Wyoming now owns 121,751 shares of the technology company’s stock worth $278,000 after acquiring an additional 43,061 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in Evolent Health in the 1st quarter worth $488,000.

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.