Evolent Health (NYSE:EVH) Reaches New 1-Year Low Following Analyst Downgrade

Shares of Evolent Health, Inc. (NYSE:EVH) reached a new 52-week low on Friday after Oppenheimer lowered their price target on the stock from $45.00 to $34.00. Oppenheimer currently has an outperform rating on the stock. Evolent Health traded as low as $15.51 and last traded at $15.51, with a volume of 258769 shares changing hands. The stock had previously closed at $24.57.

Several other equities analysts have also recently weighed in on EVH. JMP Securities dropped their price objective on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Citigroup dropped their price target on shares of Evolent Health from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Stephens downgraded shares of Evolent Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $38.00 to $16.00 in a research report on Friday. KeyCorp assumed coverage on shares of Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Evolent Health in a report on Tuesday, October 8th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Evolent Health has an average rating of “Buy” and an average target price of $34.90.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, President Daniel Joseph Mccarthy sold 23,693 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the sale, the president now directly owns 198,809 shares of the company’s stock, valued at $6,141,210.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Evolent Health news, President Daniel Joseph Mccarthy sold 23,693 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total transaction of $731,876.77. Following the sale, the president now owns 198,809 shares in the company, valued at $6,141,210.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Emily Ann Rafferty sold 8,861 shares of Evolent Health stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $265,830.00. Following the completion of the transaction, the chief operating officer now owns 63,408 shares of the company’s stock, valued at approximately $1,902,240. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 307,291 shares of company stock worth $9,290,385 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Evolent Health

A number of large investors have recently modified their holdings of the company. Scout Investments Inc. purchased a new position in Evolent Health during the first quarter worth about $5,760,000. Harbor Capital Advisors Inc. increased its position in shares of Evolent Health by 140.0% in the third quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock worth $11,946,000 after purchasing an additional 246,400 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Evolent Health by 86.7% in the first quarter. BNP Paribas Financial Markets now owns 99,126 shares of the technology company’s stock valued at $3,250,000 after purchasing an additional 46,024 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Evolent Health by 11.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 717,334 shares of the technology company’s stock valued at $23,522,000 after purchasing an additional 75,376 shares in the last quarter. Finally, Valeo Financial Advisors LLC bought a new stake in Evolent Health during the second quarter valued at approximately $2,705,000.

Evolent Health Trading Down 45.6 %

The stock’s 50 day simple moving average is $26.84 and its 200 day simple moving average is $24.83. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $1.55 billion, a PE ratio of -14.21 and a beta of 1.58.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.09. The firm had revenue of $647.10 million during the quarter, compared to analyst estimates of $636.46 million. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The company’s revenue was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. On average, sell-side analysts forecast that Evolent Health, Inc. will post 0.84 earnings per share for the current fiscal year.

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.