Stephens Cuts Evolent Health (NYSE:EVH) Price Target to $12.00

Evolent Health (NYSE:EVH) had its price objective decreased by Stephens from $16.00 to $12.00 in a research note released on Tuesday morning,Benzinga reports. Stephens currently has an equal weight rating on the technology company’s stock.

Several other brokerages also recently issued reports on EVH. KeyCorp assumed coverage on Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective for the company. Barclays reduced their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Truist Financial lowered their price target on Evolent Health from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Citigroup reduced their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Evolent Health has an average rating of “Buy” and a consensus target price of $19.31.

Evolent Health Price Performance

Shares of NYSE EVH opened at $10.16 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $1.18 billion, a PE ratio of -11.16 and a beta of 1.45. Evolent Health has a 1-year low of $9.74 and a 1-year high of $35.00. The business’s fifty day moving average price is $11.50 and its two-hundred day moving average price is $20.44.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.38). The firm had revenue of $621.40 million during the quarter, compared to analyst estimates of $625.58 million. Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. During the same period last year, the business earned $0.19 EPS. On average, research analysts expect that Evolent Health will post 0.26 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Covestor Ltd grew its holdings in shares of Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after acquiring an additional 826 shares during the last quarter. GAMMA Investing LLC increased its stake 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 worth $45,000 after purchasing an additional 1,556 shares in the last quarter. Quarry LP purchased a new position in Evolent Health in the 2nd quarter worth about $32,000. R Squared Ltd acquired a new stake in Evolent Health during the 4th quarter worth about $31,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Evolent Health during the second quarter valued at about $61,000.

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.