Evolent Health (NYSE:EVH) Price Target Lowered to $18.00 at Citigroup

Evolent Health (NYSE:EVH) had its target price reduced by analysts at Citigroup from $21.00 to $18.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective indicates a potential upside of 42.97% from the stock’s previous close.

A number of other brokerages also recently issued reports on EVH. Needham & Company LLC assumed coverage on Evolent Health in a research report on Friday. They issued a “buy” rating and a $15.00 price objective on the stock. BTIG Research cut their price objective on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Barclays lowered their target price on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price target on shares of Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, KeyCorp assumed coverage on shares of Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $23.92.

Evolent Health Price Performance

NYSE:EVH traded down $0.01 during mid-day trading on Friday, hitting $12.59. 986,027 shares of the stock traded hands, compared to its average volume of 1,382,427. Evolent Health has a 12-month low of $10.53 and a 12-month high of $35.00. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.47 billion, a PE ratio of -13.84 and a beta of 1.45. The business’s 50-day moving average price is $13.13 and its 200 day moving average price is $21.09.

Institutional Investors Weigh In On Evolent Health

A number of large investors have recently added to or reduced their stakes in EVH. Wellington Management Group LLP boosted its holdings in shares of Evolent Health by 12.8% during the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after purchasing an additional 1,426,747 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Evolent Health by 1,948.5% during the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after buying an additional 1,422,385 shares during the period. William Blair Investment Management LLC raised its holdings in shares of Evolent Health by 35.2% during the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after acquiring an additional 1,308,376 shares in the last quarter. First Light Asset Management LLC lifted its stake in Evolent Health by 401.5% in the second quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock worth $27,634,000 after acquiring an additional 1,157,124 shares during the period. Finally, Bellevue Group AG boosted its holdings in Evolent Health by 59.9% in the third quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock valued at $75,509,000 after acquiring an additional 1,000,215 shares in the last quarter.

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.