Evolent Health (NYSE:EVH) Lowered to Equal Weight Rating by Stephens

Stephens lowered shares of Evolent Health (NYSE:EVH - Free Report) from an overweight rating to an equal weight rating in a report published on Friday, Marketbeat Ratings reports. Stephens currently has $16.00 target price on the technology company's stock, down from their prior target price of $38.00.

A number of other research firms have also recently weighed in on EVH. Royal Bank of Canada reaffirmed an "outperform" rating and set a $42.00 price target on shares of Evolent Health in a research note on Tuesday, October 8th. Citigroup reduced their price objective on Evolent Health from $35.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on shares of Evolent Health from $36.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, August 19th. Truist Financial restated a "buy" rating and issued a $33.00 target price on shares of Evolent Health in a report on Tuesday, August 27th. Finally, JMP Securities decreased their target price on shares of Evolent Health from $34.00 to $31.00 and set a "market outperform" rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $34.90.

Evolent Health Stock Performance

EVH traded down $10.62 during trading on Friday, hitting $13.95. 15,002,549 shares of the stock were exchanged, compared to its average volume of 1,681,392. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.62 billion, a P/E ratio of -15.76 and a beta of 1.58. The stock has a fifty day moving average price of $27.21 and a two-hundred day moving average price of $24.98. Evolent Health has a 1-year low of $13.43 and a 1-year high of $35.00.

Evolent Health (NYSE:EVH - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.09. The firm had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. Evolent Health's quarterly revenue was up 37.9% on a year-over-year basis. During the same period last year, the firm posted $0.06 EPS. As a group, sell-side analysts predict that Evolent Health will post 0.84 earnings per share for the current year.

Insider Transactions at Evolent Health

In other news, President Daniel Joseph Mccarthy sold 23,693 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the transaction, the president now owns 198,809 shares of the company's stock, valued at $6,141,210.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Evolent Health news, President Daniel Joseph Mccarthy sold 23,693 shares of the firm's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the completion of the transaction, the president now directly owns 198,809 shares in the company, valued at $6,141,210.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Seth Blackley sold 187,904 shares of the business's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the sale, the chief executive officer now owns 411,924 shares in the company, valued at $12,357,720. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 307,291 shares of company stock valued at $9,290,385. Company insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Evolent Health

A number of institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of Evolent Health in the second quarter worth approximately $32,000. Covestor Ltd grew its stake in Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company's stock worth $40,000 after buying an additional 826 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company's stock valued at $45,000 after acquiring an additional 1,556 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Evolent Health in the 1st quarter worth approximately $46,000. Finally, Canada Pension Plan Investment Board bought a new stake in Evolent Health during the 2nd quarter worth approximately $61,000.

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.