Evolent Health (NYSE:EVH) Hits New 12-Month Low - What's Next?

Evolent Health, Inc. (NYSE:EVH - Get Free Report) reached a new 52-week low during trading on Thursday . The company traded as low as $9.40 and last traded at $9.48, with a volume of 2927141 shares. The stock had previously closed at $10.47.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Canaccord Genuity Group lowered their price target on shares of Evolent Health from $23.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price target on shares of Evolent Health in a research note on Friday, February 21st. BTIG Research decreased their price target on Evolent Health from $36.00 to $29.00 and set a "buy" rating on the stock in a report on Tuesday, December 3rd. JPMorgan Chase & Co. dropped their price objective on Evolent Health from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Finally, Barclays decreased their target price 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. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $17.79.

Evolent Health Stock Down 2.0 %

The firm has a market cap of $1.03 billion, a P/E ratio of -10.74 and a beta of 1.45. The company's 50-day simple moving average is $10.61 and its 200 day simple moving average is $18.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

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

Institutional Trading of Evolent Health

A number of institutional investors have recently bought and sold shares of EVH. Royce & Associates LP purchased a new stake in shares of Evolent Health in the third quarter valued at $7,070,000. Foundry Partners LLC bought a new position in Evolent Health during the 3rd quarter valued at about $10,042,000. Salem Investment Counselors Inc. raised its position in Evolent Health by 53.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company's stock worth $3,939,000 after purchasing an additional 121,369 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Evolent Health by 140.0% in the third quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company's stock worth $11,946,000 after purchasing an additional 246,400 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Evolent Health by 7.0% during the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company's stock valued at $1,469,000 after buying an additional 8,552 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.