Evolent Health (NYSE:EVH) Price Target Lowered to $18.00 at JMP Securities

Evolent Health (NYSE:EVH) had its price target lowered by investment analysts at JMP Securities from $27.00 to $18.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the technology company’s stock. JMP Securities’ price target indicates a potential upside of 43.20% from the stock’s current price.

Several other research firms have also weighed in on EVH. BTIG Research lowered their price objective on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Needham & Company LLC started coverage on Evolent Health in a research report on Friday. They issued a “buy” rating and a $15.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price objective on shares of Evolent Health in a research note on Tuesday, November 12th. KeyCorp started coverage on shares of Evolent Health in a research note on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, Barclays dropped 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 report on Monday, November 11th. 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. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $23.92.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $12.57 on Friday. The firm has a market cap of $1.47 billion, a P/E ratio of -13.81 and a beta of 1.45. The firm’s 50-day simple moving average is $12.91 and its 200-day simple moving average is $21.03. Evolent Health has a twelve month low of $10.53 and a twelve month high of $35.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.

Hedge Funds Weigh In On Evolent Health

Large investors have recently modified their holdings of the stock. Royce & Associates LP bought a new position in Evolent Health in the 3rd quarter worth approximately $7,070,000. Foundry Partners LLC bought a new stake in shares of Evolent Health during the third quarter worth $10,042,000. Harbor Capital Advisors Inc. raised its position in shares of Evolent Health by 140.0% during the third quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock worth $11,946,000 after acquiring an additional 246,400 shares during the last quarter. Bellevue Group AG lifted its stake in shares of Evolent Health by 59.9% during the third quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock valued at $75,509,000 after acquiring an additional 1,000,215 shares during the period. Finally, Engaged Capital LLC boosted its holdings in Evolent Health by 26.1% in the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after acquiring an additional 850,000 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.