Evolent Health (NYSE:EVH) Sets New 1-Year Low - Here's What Happened

Evolent Health, Inc. (NYSE:EVH - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $10.76 and last traded at $10.78, with a volume of 193535 shares traded. The stock had previously closed at $11.10.

Wall Street Analyst Weigh In

EVH has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Evolent Health from $45.00 to $15.00 and set an "overweight" rating on the stock in a report on Friday, November 22nd. Barclays lowered their price target on shares of Evolent Health from $39.00 to $19.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Stephens lowered Evolent Health from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $38.00 to $16.00 in a research note on Friday, November 8th. Oppenheimer decreased their price objective on Evolent Health from $34.00 to $28.00 and set an "outperform" rating for the company in a report on Monday, November 18th. Finally, KeyCorp started coverage on Evolent Health in a research report on Friday, October 11th. They set an "overweight" rating and a $35.00 price target for the company. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $26.18.

Evolent Health Price Performance

The company has a 50-day moving average of $17.59 and a 200 day moving average of $22.38. 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 stock has a market capitalization of $1.27 billion, a PE ratio of -11.95 and a beta of 1.45.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its holdings in shares of Evolent Health by 3.2% in the second quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company's stock valued at $298,000 after purchasing an additional 480 shares during the period. SeaCrest Wealth Management LLC grew its stake in shares of Evolent Health by 6.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company's stock valued at $195,000 after buying an additional 600 shares during the period. Arizona State Retirement System increased its holdings in shares of Evolent Health by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 29,083 shares of the technology company's stock worth $556,000 after buying an additional 649 shares during the last quarter. Covestor Ltd raised its position in shares of Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company's stock valued at $40,000 after buying an additional 826 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company's stock valued at $45,000 after acquiring an additional 1,556 shares during 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.