Evolent Health, Inc. (NYSE:EVH - Get Free Report)'s share price reached a new 52-week low on Wednesday . The stock traded as low as $8.35 and last traded at $8.49, with a volume of 467309 shares changing hands. The stock had previously closed at $8.55.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on EVH shares. BTIG Research reduced their target price on Evolent Health from $36.00 to $29.00 and set a "buy" rating for the company in a report on Tuesday, December 3rd. Needham & Company LLC reissued a "buy" rating and issued a $15.00 target price on shares of Evolent Health in a report on Friday, February 21st. Oppenheimer reduced their target price on Evolent Health from $28.00 to $18.00 and set an "outperform" rating for the company in a report on Friday, January 24th. UBS Group dropped their price target on Evolent Health from $27.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Finally, Royal Bank of Canada dropped their price target 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. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $17.79.
Check Out Our Latest Report on Evolent Health
Evolent Health Price Performance
The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50-day simple moving average of $10.37 and a 200-day simple moving average of $17.61. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -10.96 and a beta of 1.49.
Evolent Health (NYSE:EVH - Get Free Report) last released its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.35). The business had revenue of $646.54 million for the quarter, compared to analyst estimates 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, research analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Brendan B. Springstubb bought 5,000 shares of Evolent Health stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $8.75 per share, with a total value of $43,750.00. Following the purchase, the director now owns 11,842 shares in the company, valued at $103,617.50. This represents a 73.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.60% of the company's stock.
Institutional Investors Weigh In On Evolent Health
A number of institutional investors and hedge funds have recently bought and sold shares of EVH. Cadian Capital Management LP purchased a new stake in Evolent Health in the 4th quarter valued at approximately $58,781,000. Wellington Management Group LLP lifted its stake in Evolent Health by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company's stock valued at $356,200,000 after buying an additional 1,426,747 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Evolent Health by 1,948.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company's stock valued at $42,289,000 after buying an additional 1,422,385 shares in the last quarter. Engaged Capital LLC lifted its stake in Evolent Health by 35.5% in the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock valued at $60,804,000 after buying an additional 1,415,300 shares in the last quarter. Finally, Boston Partners lifted its stake in Evolent Health by 92.0% in the 4th quarter. Boston Partners now owns 2,444,006 shares of the technology company's stock valued at $27,097,000 after buying an additional 1,171,304 shares in the last quarter.
Evolent Health Company Profile
(
Get Free Report)
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.
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