Evolent Health (NYSE:EVH) Trading Down 5.5% – Here’s Why

Evolent Health, Inc. (NYSE:EVH)’s stock price was down 5.5% during mid-day trading on Wednesday . The company traded as low as $9.92 and last traded at $9.89. Approximately 343,537 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 2,208,790 shares. The stock had previously closed at $10.47.

Analysts Set New Price Targets

EVH has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their target price on Evolent Health from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Oppenheimer cut their price target on Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Citigroup dropped their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Stephens reduced their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Finally, Barclays decreased their target price on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $17.79.

Evolent Health Stock Down 9.4 %

The firm has a fifty day moving average price of $10.73 and a 200-day moving average price of $18.63. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -11.60 and a beta of 1.45.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The firm had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. As a group, sell-side analysts forecast that Evolent Health, Inc. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Evolent Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVH. Covestor Ltd increased its stake in shares of Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after purchasing an additional 826 shares in the last quarter. Summit Creek Advisors LLC boosted its stake in Evolent Health by 0.8% in the 4th quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company’s stock worth $2,274,000 after purchasing an additional 1,636 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in Evolent Health during the 4th quarter valued at $26,000. Parkside Financial Bank & Trust increased its position in Evolent Health by 90.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after purchasing an additional 2,358 shares during the period. Finally, Johnson Investment Counsel Inc. increased its position in shares of Evolent Health by 28.0% in the 4th quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company’s stock valued at $131,000 after acquiring an additional 2,542 shares during the period.

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.