Evolent Health (NYSE:EVH) Downgraded by Stephens to “Equal Weight”

Evolent Health (NYSE:EVH) was downgraded by research analysts at Stephens from an “overweight” rating to an “equal weight” rating in a report issued on Friday, MarketBeat Ratings reports. They presently have a $16.00 price objective on the technology company’s stock, down from their prior price objective of $38.00. Stephens’ price target indicates a potential upside of 19.76% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price target on shares of Evolent Health in a report on Tuesday, October 8th. KeyCorp assumed coverage on shares of Evolent Health in a research note on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, August 19th. JMP Securities reduced their price objective on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Finally, Truist Financial reiterated a “buy” rating and set a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $34.90.

Evolent Health Trading Down 45.6 %

NYSE EVH opened at $13.36 on Friday. The firm’s fifty day moving average is $26.84 and its two-hundred day moving average is $24.83. Evolent Health has a one year low of $13.31 and a one year high of $35.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $1.55 billion, a PE ratio of -14.21 and a beta of 1.58.

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

Insider Transactions at Evolent Health

In related news, President Daniel Joseph Mccarthy sold 23,693 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total value of $731,876.77. Following the completion of the transaction, the president now directly owns 198,809 shares of the company’s stock, valued at $6,141,210.01. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Evolent Health news, General Counsel Jonathan Weinberg sold 42,140 shares of Evolent Health 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 completion of the transaction, the general counsel now owns 167,027 shares in the company, valued at approximately $5,211,242.40. 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 is accessible through this link. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the completion of the sale, the president now owns 198,809 shares in the company, valued at $6,141,210.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 307,291 shares of company stock valued at $9,290,385 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Evolent Health

Institutional investors and hedge funds have recently bought and sold shares of the stock. Foundry Partners LLC purchased a new stake in Evolent Health during the 3rd quarter worth about $10,042,000. Intech Investment Management LLC purchased a new stake in shares of Evolent Health during the third quarter worth about $989,000. Jennison Associates LLC raised its position in shares of Evolent Health by 5.7% in the third quarter. Jennison Associates LLC now owns 646,806 shares of the technology company’s stock valued at $18,292,000 after buying an additional 34,990 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Evolent Health in the third quarter valued at approximately $262,000. Finally, Royce & Associates LP purchased a new position in shares of Evolent Health during the third quarter valued at approximately $7,070,000.

About Evolent Health

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.