Evolent Health (NYSE:EVH) Hits New 12-Month Low – What’s Next?

Shares of Evolent Health, Inc. (NYSE:EVHGet Free Report) reached a new 52-week low during trading on Tuesday . The stock traded as low as $10.76 and last traded at $10.78, with a volume of 193535 shares traded. The stock had previously closed at $11.10.

Wall Street Analysts Forecast Growth

Several research firms have commented on EVH. Truist Financial reissued a “buy” rating and set a $33.00 price objective on shares of Evolent Health in a report on Tuesday, August 27th. KeyCorp initiated 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. Barclays decreased their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $38.00 to $16.00 in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered their target price 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. One 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $26.18.

Read Our Latest Research Report on EVH

Evolent Health Stock Up 1.8 %

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -11.98 and a beta of 1.45. The business has a 50 day simple moving average of $17.28 and a 200-day simple moving average of $22.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.

Institutional Trading of Evolent Health

Several hedge funds have recently made changes to their positions in EVH. Wellington Management Group LLP increased its position in shares of Evolent Health by 12.8% during the 3rd 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 last quarter. William Blair Investment Management LLC boosted its position in Evolent Health by 35.2% in the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after buying an additional 1,308,376 shares during the period. Engaged Capital LLC grew its stake in shares of 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 purchasing an additional 850,000 shares in the last quarter. Eventide Asset Management LLC lifted its holdings in shares of Evolent Health by 1.7% in the 3rd quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock valued at $107,580,000 after purchasing an additional 64,985 shares during the last quarter. Finally, State Street Corp grew its stake in Evolent Health by 1.0% during 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 last quarter.

About Evolent Health

(Get Free Report)

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.

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