Evolent Health (NYSE:EVH) Price Target Lowered to $28.00 at Oppenheimer

Evolent Health (NYSE:EVH - Get Free Report) had its price objective dropped by investment analysts at Oppenheimer from $34.00 to $28.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the technology company's stock. Oppenheimer's target price would indicate a potential upside of 126.72% from the stock's current price.

A number of other research analysts have also issued reports on EVH. JMP Securities lowered 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 note on Friday, August 9th. KeyCorp initiated coverage on shares of Evolent Health in a report on Friday, October 11th. They issued an "overweight" rating and a $35.00 price target on the stock. Stephens downgraded Evolent Health from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. Barclays reduced their price target on shares of Evolent Health from $39.00 to $19.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. Finally, Truist Financial restated a "buy" rating and issued a $33.00 target price on shares of Evolent Health in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $28.90.

Evolent Health Stock Down 0.2 %

Shares of Evolent Health stock traded down $0.03 during midday trading on Monday, hitting $12.35. The company's stock had a trading volume of 1,878,532 shares, compared to its average volume of 1,772,556. The firm has a market capitalization of $1.44 billion, a P/E ratio of -13.63 and a beta of 1.58. Evolent Health has a 1-year low of $12.18 and a 1-year high of $35.00. The company has a quick ratio of 1.08, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a 50-day simple moving average of $25.11 and a 200-day simple moving average of $24.29.

Insider Activity

In related news, COO Emily Ann Rafferty sold 8,861 shares of the company'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 $265,830.00. Following the sale, the chief operating officer now directly owns 63,408 shares in the company, valued at approximately $1,902,240. This represents a 12.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Seth Blackley sold 187,904 shares of Evolent Health 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 completion of the transaction, the chief executive officer now owns 411,924 shares of the company's stock, valued at $12,357,720. This represents a 31.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 307,291 shares of company stock worth $9,290,385. Company insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Evolent Health

Several hedge funds have recently made changes to their positions in EVH. Harbor Capital Advisors Inc. grew its holdings in Evolent Health by 140.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company's stock valued at $11,946,000 after buying an additional 246,400 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Evolent Health by 11.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 717,334 shares of the technology company's stock worth $23,522,000 after acquiring an additional 75,376 shares during the period. Valeo Financial Advisors LLC purchased a new position in shares of Evolent Health during the 2nd quarter valued at $2,705,000. Gabelli Funds LLC increased its holdings in shares of Evolent Health by 21.5% in the first quarter. Gabelli Funds LLC now owns 638,500 shares of the technology company's stock worth $20,936,000 after purchasing an additional 113,000 shares during the period. Finally, Engaged Capital LLC raised its position in shares of Evolent Health by 26.1% in 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 in 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.