Evolent Health (NYSE:EVH) Hits New 12-Month Low – Here’s Why

Evolent Health, Inc. (NYSE:EVH)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $9.40 and last traded at $9.48, with a volume of 2927141 shares trading hands. The stock had previously closed at $10.47.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EVH shares. Oppenheimer lowered their price target on Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Royal Bank of Canada lowered their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Evolent Health in a research report on Friday, February 21st. Piper Sandler reiterated an “overweight” rating and set a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. Finally, UBS Group decreased their price target on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $17.79.

Evolent Health Stock Down 9.5 %

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50 day simple moving average of $10.70 and a 200 day simple moving average of $18.57. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -11.56 and a beta of 1.45.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.35). The company had revenue of $646.54 million for the quarter, compared to analysts’ expectations of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. As a group, equities analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd purchased a new position in Evolent Health during the fourth quarter worth $26,000. R Squared Ltd purchased a new stake in shares of Evolent Health during the 4th quarter valued at $31,000. AlphaQuest LLC grew its position in Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock valued at $34,000 after acquiring an additional 3,031 shares during the period. Covestor Ltd increased its position in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after purchasing an additional 826 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Evolent Health by 90.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after acquiring an additional 2,358 shares in 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.