Evolent Health (NYSE:EVH) Stock Price Down 5.5% - Here's What Happened

Evolent Health, Inc. (NYSE:EVH - Get Free Report)'s stock price was down 5.5% during mid-day trading on Wednesday . The stock traded as low as $9.92 and last traded at $9.89. Approximately 343,537 shares were traded during trading, a decline of 84% from the average daily volume of 2,208,790 shares. The stock had previously closed at $10.47.

Analysts Set New Price Targets

Several analysts recently issued reports on EVH shares. Stephens cut their price objective on Evolent Health from $16.00 to $12.00 and set an "equal weight" rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada lowered their target price on shares of Evolent Health from $20.00 to $17.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 14th. UBS Group lowered their target price on shares of Evolent Health from $27.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. lowered their target price on shares of Evolent Health from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Finally, Citigroup lowered 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 report on Friday, January 10th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $17.79.

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Evolent Health Trading Up 3.5 %

The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -10.95 and a beta of 1.45. The business has a 50-day moving average of $10.61 and a two-hundred day moving average of $18.27. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Evolent Health (NYSE:EVH - Get Free Report) last released its 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). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The firm had revenue of $646.54 million for the quarter, compared to analyst estimates of $650.92 million. Research analysts predict that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

A number of institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd grew its position in Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company's stock worth $40,000 after buying an additional 826 shares in the last quarter. Summit Creek Advisors LLC lifted its stake in Evolent Health by 0.8% during the fourth quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company's stock worth $2,274,000 after purchasing an additional 1,636 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in Evolent Health during the fourth quarter worth about $26,000. Parkside Financial Bank & Trust lifted its stake in Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company's stock worth $56,000 after purchasing an additional 2,358 shares during the period. Finally, Johnson Investment Counsel Inc. lifted its stake in Evolent Health by 28.0% during the fourth quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company's stock worth $131,000 after purchasing an additional 2,542 shares during the period.

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.