JPMorgan Chase & Co. Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH - Get Free Report) had its target price cut by stock analysts at JPMorgan Chase & Co. from $13.00 to $12.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 24.10% from the company's previous close.

Several other equities analysts have also recently issued reports on EVH. Citigroup reduced their price objective on Evolent Health from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Truist Financial reduced their price objective on Evolent Health from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Stephens reduced their price objective on Evolent Health from $16.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 21st. Barclays reduced their price objective on Evolent Health from $39.00 to $19.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. Finally, JMP Securities restated a "market outperform" rating and set a $12.00 price objective on shares of Evolent Health in a research note on Friday, February 14th. One 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 stock. According to data from MarketBeat, Evolent Health presently has a consensus rating of "Buy" and an average price target of $17.71.

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Evolent Health Stock Up 1.4 %

Shares of EVH stock traded up $0.13 during mid-day trading on Monday, reaching $9.67. 43,071 shares of the company were exchanged, compared to its average volume of 2,547,203. Evolent Health has a fifty-two week low of $8.35 and a fifty-two week high of $33.63. 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 market capitalization of $1.13 billion, a P/E ratio of -11.79 and a beta of 1.49. The business's 50 day simple moving average is $10.26 and its 200 day simple moving average is $17.23.

Evolent Health (NYSE:EVH - Get Free Report) last announced its quarterly earnings data 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). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The firm had revenue of $646.54 million for the quarter, compared to the consensus estimate of $650.92 million. Research analysts predict that Evolent Health will post 0.08 earnings per share for the current year.

Insider Activity

In other Evolent Health news, CEO Seth Blackley purchased 55,225 shares of the stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $9.01 per share, with a total value of $497,577.25. Following the completion of the acquisition, the chief executive officer now owns 762,217 shares of the company's stock, valued at approximately $6,867,575.17. This trade represents a 7.81 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brendan B. Springstubb purchased 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $8.75 per share, for a total transaction of $43,750.00. Following the completion of the acquisition, the director now directly owns 11,842 shares of the company's stock, valued at approximately $103,617.50. This trade represents a 73.08 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 74,000 shares of company stock valued at $666,315. Company insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

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