Evolent Health (NYSE:EVH) Given New $13.00 Price Target at JPMorgan Chase & Co.

Evolent Health (NYSE:EVH) had its target price decreased by JPMorgan Chase & Co. from $15.00 to $13.00 in a research note published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other research firms also recently weighed in on EVH. Needham & Company LLC assumed coverage on shares of Evolent Health in a report on Friday, January 10th. They issued a “buy” rating and a $15.00 target price on the stock. Royal Bank of Canada reduced their price objective on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Oppenheimer lowered their price objective on Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. BTIG Research decreased their price target on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Finally, Truist Financial dropped their price objective on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $18.38.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $10.42 on Tuesday. The firm has a market cap of $1.21 billion, a PE ratio of -11.44 and a beta of 1.45. The stock has a 50 day moving average of $11.37 and a 200 day moving average of $20.26. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a 12 month low of $9.74 and a 12 month high of $35.00.

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

Institutional Investors Weigh In On Evolent Health

Several large investors have recently added to or reduced their stakes in EVH. Wellington Management Group LLP raised its stake 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 valued at $356,200,000 after acquiring an additional 1,426,747 shares in the last quarter. Eventide Asset Management LLC increased its holdings in Evolent Health by 1.7% during the 3rd quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock worth $107,580,000 after purchasing an additional 64,985 shares during the period. State Street Corp lifted its holdings in shares of Evolent Health by 1.0% in the 3rd quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock worth $77,074,000 after buying an additional 25,967 shares during the period. Bellevue Group AG lifted its holdings in shares of Evolent Health by 59.9% in the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after buying an additional 1,000,215 shares during the period. Finally, Point72 Asset Management L.P. grew its position in shares of Evolent Health by 1,948.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock worth $42,289,000 after buying an additional 1,422,385 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.