Truist Financial Cuts Evolent Health (NYSE:EVH) Price Target to $20.00

Evolent Health (NYSE:EVH) had its price objective cut by Truist Financial from $24.00 to $20.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities analysts have also recently commented on EVH. KeyCorp started coverage on shares of Evolent Health in a research note on Friday, October 11th. They set an “overweight” rating and a $35.00 target price for the company. Needham & Company LLC began coverage on shares of Evolent Health in a research note on Friday. They issued a “buy” rating and a $15.00 target price for the company. JMP Securities decreased their target price on Evolent Health from $27.00 to $18.00 and set a “market outperform” rating on the stock in a research report on Friday. Barclays cut their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, BTIG Research decreased their price objective on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Evolent Health currently has a consensus rating of “Buy” and an average target price of $22.83.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $12.37 on Monday. Evolent Health has a 12 month low of $10.53 and a 12 month high of $35.00. The company has a market cap of $1.44 billion, a P/E ratio of -13.59 and a beta of 1.45. The business’s 50 day moving average is $12.69 and its two-hundred day moving average is $20.97. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EVH. Arizona State Retirement System increased its position in shares of Evolent Health by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 29,083 shares of the technology company’s stock worth $556,000 after purchasing an additional 649 shares in the last quarter. Covestor Ltd increased its holdings in shares of Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after buying an additional 826 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after acquiring an additional 1,556 shares during the last quarter. Quarry LP acquired a new position in shares of Evolent Health in the 2nd quarter worth approximately $32,000. Finally, Creative Planning grew its position in Evolent Health by 12.2% during the 2nd quarter. Creative Planning now owns 18,091 shares of the technology company’s stock worth $346,000 after acquiring an additional 1,973 shares during 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.