Evolent Health (NYSE:EVH) Price Target Lowered to $14.00 at Truist Financial

Evolent Health (NYSE:EVH - Free Report) had its price objective lowered by Truist Financial from $15.00 to $14.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the technology company's stock.

A number of other equities analysts have also recently commented on the company. Oppenheimer lowered their price target on Evolent Health from $28.00 to $18.00 and set an "outperform" rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on shares of Evolent Health from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Canaccord Genuity Group dropped their price objective on shares of Evolent Health from $23.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Citigroup decreased their target price on shares of Evolent Health from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $12.00 price target on shares of Evolent Health in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $17.64.

Evolent Health Price Performance

EVH stock traded down $0.31 during midday trading on Thursday, reaching $9.48. The company had a trading volume of 1,079,249 shares, compared to its average volume of 2,529,199. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -11.56 and a beta of 1.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. Evolent Health has a 1-year low of $8.35 and a 1-year high of $33.63. The stock has a 50 day moving average price of $9.70 and a 200-day moving average price of $13.61.

Evolent Health (NYSE:EVH - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.35). The firm had revenue of $646.54 million for the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. Equities research analysts expect that Evolent Health will post 0.08 earnings per share for the current year.

Insider Transactions at Evolent Health

In other Evolent Health news, Director Brendan B. Springstubb bought 5,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was 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 owns 11,842 shares in the company, valued at $103,617.50. This trade represents a 73.08 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Seth Blackley purchased 55,225 shares of the business's stock in a transaction on Thursday, March 6th. The shares were acquired at an average price of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the acquisition, the chief executive officer now directly owns 762,217 shares in the company, valued at approximately $6,867,575.17. This represents a 7.81 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 74,000 shares of company stock worth $666,315. Company insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Evolent Health

Several institutional investors have recently made changes to their positions in EVH. Pilgrim Partners Asia Pte Ltd bought a new position in Evolent Health in the fourth quarter worth approximately $26,000. R Squared Ltd bought a new stake in Evolent Health during the 4th quarter valued at $31,000. AlphaQuest LLC raised its holdings in Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company's stock worth $34,000 after buying an additional 3,031 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Evolent Health by 90.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company's stock valued at $56,000 after buying an additional 2,358 shares in the last quarter. Finally, AlphaCentric Advisors LLC acquired a new position in shares of Evolent Health during the fourth quarter valued at about $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.