Oppenheimer Lowers Evolent Health (NYSE:EVH) Price Target to $34.00

Evolent Health (NYSE:EVH) had its price objective lowered by Oppenheimer from $45.00 to $34.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other research firms have also commented on EVH. Truist Financial reaffirmed a “buy” rating and issued a $33.00 price target on shares of Evolent Health in a report on Tuesday, August 27th. Citigroup lowered their target price on Evolent Health from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. KeyCorp initiated coverage on Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price target for the company. JMP Securities decreased 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Evolent Health in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $32.90.

Evolent Health Stock Performance

Shares of Evolent Health stock traded up $1.30 on Friday, reaching $14.66. 1,466,157 shares of the stock were exchanged, compared to its average volume of 1,704,975. Evolent Health has a twelve month low of $13.31 and a twelve month high of $35.00. The business has a 50 day moving average price of $26.84 and a two-hundred day moving average price of $24.80. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -16.09 and a beta of 1.58.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.21 by $0.09. The business had revenue of $647.10 million for the quarter, compared to the consensus estimate of $636.46 million. Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.27%. The business’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. Analysts anticipate that Evolent Health will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Daniel Joseph Mccarthy sold 23,693 shares of the company’s stock in a transaction dated 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 transaction, the president now owns 198,809 shares in the company, valued at $6,141,210.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Seth Blackley sold 187,904 shares of the company’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 sale, the chief executive officer now owns 411,924 shares of the company’s stock, valued at $12,357,720. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $731,876.77. Following the completion of the transaction, the president now directly owns 198,809 shares in the company, valued at $6,141,210.01. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 307,291 shares of company stock valued at $9,290,385. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Evolent Health

A number of institutional investors have recently added to or reduced their stakes in EVH. Vanguard Group Inc. boosted its holdings in Evolent Health by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock valued at $357,905,000 after purchasing an additional 93,739 shares during the last quarter. RA Capital Management L.P. lifted its holdings in Evolent Health by 125.0% in the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock valued at $188,088,000 after acquiring an additional 3,187,000 shares during the last quarter. William Blair Investment Management LLC grew its position in Evolent Health by 35.2% in the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after acquiring an additional 1,308,376 shares during the period. Engaged Capital LLC increased its stake in Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after acquiring an additional 850,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Evolent Health by 5.4% in 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 purchasing an additional 121,770 shares during the period.

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.