Evolent Health (NYSE:EVH) Price Target Lowered to $33.00 at Citigroup

Evolent Health (NYSE:EVH) had its price target trimmed by Citigroup from $35.00 to $33.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. JMP Securities cut their price target on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 target price on shares of Evolent Health in a research report on Tuesday, October 8th. KeyCorp assumed coverage on Evolent Health in a research report on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price for the company. JPMorgan Chase & Co. upped their price target on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Finally, Stephens reiterated an “overweight” rating and set a $42.00 price objective on shares of Evolent Health in a research note on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $38.60.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $23.36 on Tuesday. The firm’s 50 day moving average is $28.17 and its two-hundred day moving average is $25.20. Evolent Health has a 52 week low of $17.98 and a 52 week high of $35.00. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The firm had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The business’s revenue was up 37.9% on a year-over-year basis. During the same quarter last year, the company posted $0.06 earnings per share. On average, analysts predict that Evolent Health will post 0.84 earnings per share for the current fiscal year.

Insider Transactions at Evolent Health

In related news, General Counsel Jonathan Weinberg sold 42,140 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the sale, the general counsel now owns 167,027 shares in the company, valued at $5,211,242.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the completion of the transaction, the chief executive officer now owns 411,924 shares of the company’s stock, valued at approximately $12,357,720. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the transaction, the general counsel now owns 167,027 shares of the company’s stock, valued at $5,211,242.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 307,291 shares of company stock worth $9,290,385. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Evolent Health during the second quarter valued at approximately $32,000. GAMMA Investing LLC increased its position in Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after acquiring an additional 1,556 shares during the period. Headlands Technologies LLC bought a new stake in Evolent Health during the 1st quarter valued at $46,000. Canada Pension Plan Investment Board acquired a new position in Evolent Health during the 2nd quarter worth $61,000. Finally, Quest Partners LLC bought a new position in shares of Evolent Health in the second quarter worth $87,000.

Evolent Health Company Profile

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.