Oppenheimer Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price target decreased by investment analysts at Oppenheimer from $18.00 to $12.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target would indicate a potential upside of 149.90% from the stock’s current price.

A number of other equities research analysts have also recently commented on EVH. Citizens Jmp decreased their price target on Evolent Health from $13.00 to $11.00 and set a “market outperform” rating on the stock in a report on Monday. Canaccord Genuity Group reissued a “buy” rating and set a $16.00 target price on shares of Evolent Health in a research note on Tuesday, September 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Evolent Health in a report on Wednesday, October 8th. Piper Sandler lifted their price objective on shares of Evolent Health from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Finally, BTIG Research dropped their target price on shares of Evolent Health from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Evolent Health currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Evolent Health Stock Performance

Shares of NYSE:EVH traded down $0.24 during mid-day trading on Wednesday, reaching $4.80. 1,324,282 shares of the company traded hands, compared to its average volume of 2,770,050. The company’s 50 day moving average price is $7.98 and its 200-day moving average price is $8.99. The firm has a market cap of $564.28 million, a PE ratio of -2.98 and a beta of 0.58. Evolent Health has a 52 week low of $4.62 and a 52 week high of $14.53. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.01 and a quick ratio of 1.01.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Tuesday, June 4th. The technology company reported $0.21 earnings per share for the quarter. The business had revenue of $427.70 million for the quarter. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. On average, equities analysts expect that Evolent Health will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

A number of institutional investors and hedge funds have recently made changes to their positions in EVH. Nisa Investment Advisors LLC raised its position in shares of Evolent Health by 88.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after buying an additional 1,194 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Evolent Health in the first quarter worth about $25,000. Parallel Advisors LLC raised its position in Evolent Health by 82.6% during the second quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock valued at $39,000 after purchasing an additional 1,577 shares during the period. Strs Ohio bought a new stake in shares of Evolent Health in the 1st quarter valued at approximately $47,000. Finally, Headlands Technologies LLC purchased a new position in shares of Evolent Health in the 2nd quarter worth approximately $58,000.

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.