Evolent Health (NYSE:EVH) Stock Price Down 5.5%

Evolent Health, Inc. (NYSE:EVHGet Free Report) was down 5.5% on Tuesday . The stock traded as low as $20.78 and last traded at $20.82. Approximately 907,409 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 1,131,031 shares. The stock had previously closed at $22.04.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EVH shares. JMP Securities reduced their target price on shares of Evolent Health from $38.00 to $34.00 and set a “market outperform” rating for the company in a research note on Friday, May 10th. Canaccord Genuity Group reduced their target price on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, May 10th. JPMorgan Chase & Co. reduced their target price on shares of Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Citigroup assumed coverage on shares of Evolent Health in a research note on Monday, April 22nd. They issued a “buy” rating and a $40.00 target price for the company. Finally, Oppenheimer assumed coverage on shares of Evolent Health in a research note on Friday, March 1st. They set an “outperform” rating and a $45.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Get Our Latest Stock Report on EVH

Evolent Health Price Performance

The business’s 50 day moving average price is $24.75 and its 200-day moving average price is $29.19. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

Evolent Health (NYSE:EVHGet Free Report) last posted its earnings results on Thursday, May 9th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $639.65 million during the quarter, compared to analysts’ expectations of $601.60 million. Evolent Health had a negative net margin of 5.07% and a positive return on equity of 6.90%. As a group, sell-side analysts anticipate that Evolent Health, Inc. will post 0.9 EPS for the current year.

Institutional Trading of Evolent Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. ICA Group Wealth Management LLC acquired a new stake in Evolent Health during the 4th quarter worth $33,000. Headlands Technologies LLC acquired a new stake in Evolent Health during the 1st quarter worth $46,000. Signaturefd LLC grew its holdings in Evolent Health by 1,470.7% during the 4th quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock worth $48,000 after acquiring an additional 1,353 shares during the period. NBC Securities Inc. acquired a new stake in Evolent Health during the 4th quarter worth $69,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Evolent Health during the 1st quarter worth $88,000.

About Evolent Health

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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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