Evolent Health (NYSE:EVH) Price Target Cut to $18.00 by Analysts at JMP Securities

Evolent Health (NYSE:EVH) had its target price decreased by JMP Securities from $27.00 to $18.00 in a research report sent to investors on Friday,Benzinga reports. JMP Securities currently has a market outperform rating on the technology company’s stock.

Several other analysts also recently issued reports on EVH. BTIG Research cut 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. Citigroup cut their price target on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Stephens lowered shares of Evolent Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $38.00 to $16.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. cut their target price on shares of Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, KeyCorp started coverage on Evolent Health in a report on Friday, October 11th. They set an “overweight” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $23.92.

Evolent Health Price Performance

Shares of NYSE:EVH opened at $12.57 on Friday. The company has a market capitalization of $1.47 billion, a PE ratio of -13.81 and a beta of 1.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average of $13.13 and a 200-day moving average of $21.09. Evolent Health has a one year low of $10.53 and a one year high of $35.00.

Institutional Investors Weigh In On Evolent Health

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