Evolent Health (NYSE:EVH) Given New $12.00 Price Target at Stephens

Evolent Health (NYSE:EVH) had its price objective decreased by Stephens from $16.00 to $12.00 in a research report report published on Tuesday,Benzinga reports. Stephens currently has an equal weight rating on the technology company’s stock.

A number of other equities analysts also recently weighed in on EVH. Truist Financial dropped their price target on shares of Evolent Health from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. JMP Securities dropped their price target on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Friday, January 10th. Needham & Company LLC started coverage on Evolent Health in a research note on Friday, January 10th. They issued a “buy” rating and a $15.00 price objective on the stock. Royal Bank of Canada cut their target price on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. Finally, Oppenheimer lowered their price objective on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, November 18th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Evolent Health presently has an average rating of “Buy” and an average price target of $19.31.

Evolent Health Stock Up 1.6 %

Shares of Evolent Health stock opened at $10.16 on Tuesday. Evolent Health has a 1 year low of $9.74 and a 1 year high of $35.00. The company has a market cap of $1.18 billion, a P/E ratio of -11.16 and a beta of 1.45. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $11.50 and a 200 day moving average price of $20.44.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.38). The company had revenue of $621.40 million during the quarter, compared to analysts’ expectations of $625.58 million. Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. During the same period last year, the company earned $0.19 earnings per share. As a group, analysts expect that Evolent Health will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EVH. Wellington Management Group LLP lifted its holdings in shares of Evolent Health by 12.8% during the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after acquiring an additional 1,426,747 shares during the period. Engaged Capital LLC lifted its holdings in Evolent Health by 26.1% during the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after purchasing an additional 850,000 shares during the last quarter. Eventide Asset Management LLC lifted its holdings in Evolent Health by 1.7% during the 3rd quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock valued at $107,580,000 after purchasing an additional 64,985 shares during the last quarter. State Street Corp boosted its position in Evolent Health by 1.0% in the third quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after buying an additional 25,967 shares in the last quarter. Finally, Bellevue Group AG grew its stake in Evolent Health by 59.9% during the third quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after buying an additional 1,000,215 shares during the last quarter.

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.