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

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

A number of other research firms have also recently issued reports on EVH. Needham & Company LLC began coverage on Evolent Health in a research note on Friday, January 10th. They issued a “buy” rating and a $15.00 target price for the company. Stephens lowered their target price on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Oppenheimer cut their price target on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. UBS Group reduced their price target 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. Finally, Royal Bank of Canada dropped their price objective on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $18.38.

Evolent Health Stock Performance

Shares of EVH stock opened at $10.57 on Tuesday. The stock has a market cap of $1.23 billion, a PE ratio of -11.61 and a beta of 1.45. The stock has a 50-day moving average of $11.34 and a 200-day moving average of $20.13. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. Evolent Health has a one year low of $9.74 and a one year high of $35.00.

Evolent Health (NYSE:EVH) last issued its 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). The firm had revenue of $621.40 million during the quarter, compared to the consensus estimate of $625.58 million. Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. During the same period in the previous year, the company posted $0.19 EPS. As a group, sell-side analysts expect that Evolent Health will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On Evolent Health

A number of large investors have recently modified their holdings of the business. Congress Asset Management Co. boosted its position in Evolent Health by 115.6% during the fourth quarter. Congress Asset Management Co. now owns 224,284 shares of the technology company’s stock valued at $2,523,000 after purchasing an additional 120,261 shares during the last quarter. Entropy Technologies LP raised its stake in shares of Evolent Health by 247.6% during the 4th quarter. Entropy Technologies LP now owns 39,219 shares of the technology company’s stock worth $441,000 after purchasing an additional 27,936 shares in the last quarter. Tempus Wealth Planning LLC acquired a new stake in shares of Evolent Health in the 4th quarter valued at approximately $240,000. Chicago Capital LLC increased its holdings in Evolent Health by 209.1% during the fourth quarter. Chicago Capital LLC now owns 31,134 shares of the technology company’s stock worth $350,000 after buying an additional 21,061 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in Evolent Health by 50.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,643 shares of the technology company’s stock worth $153,000 after acquiring an additional 4,547 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.