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

Evolent Health (NYSE:EVH - Free Report) had its target price lowered by JPMorgan Chase & Co. from $45.00 to $15.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the technology company's stock.

Other analysts have also recently issued research reports about the stock. JMP Securities cut their target price on shares of Evolent Health from $34.00 to $31.00 and set a "market outperform" rating for the company in a research note on Friday, August 9th. Citigroup reduced their target price on Evolent Health from $33.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, November 13th. Barclays lowered their price target 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. KeyCorp assumed coverage on Evolent Health in a research note on Friday, October 11th. They issued an "overweight" rating and a $35.00 price objective for the company. Finally, Truist Financial reaffirmed a "buy" rating and set a $33.00 target price on shares of Evolent Health in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $25.90.

Evolent Health Stock Performance

Shares of EVH stock traded down $0.34 on Friday, hitting $11.25. The company had a trading volume of 1,967,747 shares, compared to its average volume of 3,500,539. Evolent Health has a twelve month low of $11.17 and a twelve month high of $35.00. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market cap of $1.31 billion, a P/E ratio of -12.36 and a beta of 1.58. The company has a 50-day moving average price of $23.26 and a 200-day moving average price of $23.77.

Institutional Trading of Evolent Health

Several hedge funds and other institutional investors have recently made changes to their positions in EVH. Wellington Management Group LLP boosted its stake in shares of Evolent Health by 12.8% during the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company's stock valued at $356,200,000 after acquiring an additional 1,426,747 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Evolent Health by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company's stock worth $357,905,000 after buying an additional 93,739 shares in the last quarter. RA Capital Management L.P. raised its holdings in Evolent Health by 125.0% in the 1st quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company's stock valued at $188,088,000 after acquiring an additional 3,187,000 shares during the last quarter. William Blair Investment Management LLC lifted its position in Evolent Health by 35.2% during the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company's stock worth $96,098,000 after buying an additional 1,308,376 shares during the period. Finally, Engaged Capital LLC grew its holdings in Evolent Health by 26.1% in the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company's stock valued at $78,611,000 after buying an additional 850,000 shares during the period.

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.