Canaccord Genuity Group Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price objective cut by Canaccord Genuity Group from $23.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price objective points to a potential upside of 58.34% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reduced their target price on Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Citigroup lowered their target price on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. UBS Group dropped their target price on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Barclays lowered their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, JMP Securities reduced their price objective on Evolent Health from $27.00 to $18.00 and set a “market outperform” rating on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Evolent Health currently has an average rating of “Buy” and an average price target of $18.54.

Evolent Health Stock Down 0.7 %

Shares of EVH opened at $10.11 on Thursday. The firm has a market cap of $1.18 billion, a P/E ratio of -11.10 and a beta of 1.45. Evolent Health has a 12 month low of $9.74 and a 12 month high of $35.00. The stock’s 50 day moving average is $11.45 and its two-hundred day moving average is $20.38. 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 (NYSE:EVH) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.38). Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. The company had revenue of $621.40 million during the quarter, compared to analysts’ expectations of $625.58 million. During the same period in the previous year, the firm posted $0.19 EPS. Analysts predict that Evolent Health will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in shares of Evolent Health by 12.8% in the 3rd 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 during the period. Point72 Asset Management L.P. increased its holdings in Evolent Health by 1,948.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after purchasing an additional 1,422,385 shares during the last quarter. Bellevue Group AG raised its position 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 purchasing an additional 1,000,215 shares during the period. Engaged Capital LLC lifted its stake in 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. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Evolent Health by 90.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock worth $9,036,000 after buying an additional 380,790 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.