Evolent Health (NYSE:EVH) Reaches New 12-Month Low - Should You Sell?

Evolent Health, Inc. (NYSE:EVH - Get Free Report)'s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $15.51 and last traded at $15.51, with a volume of 258769 shares. The stock had previously closed at $24.57.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Evolent Health from $36.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, August 19th. Oppenheimer decreased their price objective on Evolent Health from $45.00 to $34.00 and set an "outperform" rating for the company in a research note on Friday. KeyCorp initiated coverage on Evolent Health in a report on Friday, October 11th. They set an "overweight" rating and a $35.00 target price on the stock. JMP Securities lowered their price target on 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. Finally, Truist Financial reiterated a "buy" rating and issued a $33.00 price target on shares of Evolent Health in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Evolent Health currently has a consensus rating of "Buy" and a consensus target price of $34.90.

Evolent Health Trading Down 45.7 %

The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -14.67 and a beta of 1.58. The business has a 50-day simple moving average of $27.21 and a two-hundred day simple moving average of $24.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08.

Evolent Health (NYSE:EVH - Get Free Report) last released its earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.09. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The business had revenue of $647.10 million during the quarter, compared to the consensus estimate of $636.46 million. During the same quarter last year, the firm earned $0.06 earnings per share. The firm's revenue for the quarter was up 37.9% compared to the same quarter last year. As a group, research analysts forecast that Evolent Health, Inc. will post 0.84 EPS for the current year.

Insider Activity

In related news, CEO Seth Blackley sold 187,904 shares of the firm's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the sale, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, President Daniel Joseph Mccarthy sold 23,693 shares of Evolent Health stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the completion of the sale, the president now owns 198,809 shares of the company's stock, valued at approximately $6,141,210.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Seth Blackley sold 187,904 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the completion of the transaction, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 307,291 shares of company stock valued at $9,290,385. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Evolent Health

Several institutional investors and hedge funds have recently made changes to their positions in EVH. Vanguard Group Inc. boosted its stake in Evolent Health by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company's stock valued at $357,905,000 after purchasing an additional 93,739 shares during the period. RA Capital Management L.P. grew its stake in shares of Evolent Health by 125.0% in the first 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 in the last quarter. William Blair Investment Management LLC grew its stake in shares of Evolent Health by 35.2% in the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company's stock valued at $96,098,000 after acquiring an additional 1,308,376 shares in the last quarter. Engaged Capital LLC increased its position in Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company's stock worth $78,611,000 after acquiring an additional 850,000 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Evolent Health by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company's stock worth $45,286,000 after purchasing an additional 121,770 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.