Evolent Health (NYSE:EVH) Reaches New 1-Year Low – Here’s Why

Evolent Health, Inc. (NYSE:EVH) hit a new 52-week low during trading on Thursday . The stock traded as low as $11.10 and last traded at $11.21, with a volume of 639411 shares trading hands. The stock had previously closed at $11.51.

Analysts Set New Price Targets

EVH has been the subject of several analyst reports. BTIG Research reduced their target price on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday. Citigroup reduced their target price on Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Barclays dropped their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Oppenheimer dropped their price target on Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, November 18th. Finally, 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 on the stock. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $26.18.

Evolent Health Stock Performance

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a 50-day simple moving average of $20.44 and a two-hundred day simple moving average of $23.10. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -12.66 and a beta of 1.45.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Royce & Associates LP acquired a new position in shares of Evolent Health during the 3rd quarter valued at about $7,070,000. Foundry Partners LLC bought a new stake in Evolent Health during the 3rd quarter valued at approximately $10,042,000. Harbor Capital Advisors Inc. boosted its stake in Evolent Health by 140.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock valued at $11,946,000 after purchasing an additional 246,400 shares during the period. Engaged Capital LLC boosted its stake in Evolent Health by 26.1% during the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after purchasing an additional 850,000 shares during the period. Finally, Bellevue Group AG boosted its stake in Evolent Health by 59.9% during the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock valued at $75,509,000 after purchasing an additional 1,000,215 shares during the period.

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.