Oppenheimer Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH - Free Report) had its target price trimmed by Oppenheimer from $45.00 to $34.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company's stock.

Other research analysts also recently issued reports about the company. KeyCorp assumed coverage on Evolent Health in a research note on Friday, October 11th. They issued an "overweight" rating and a $35.00 price target for the company. JPMorgan Chase & Co. boosted their target price on shares of Evolent Health from $36.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, August 19th. Truist Financial reiterated a "buy" rating and issued a $33.00 price target on shares of Evolent Health in a research note on Tuesday, August 27th. JMP Securities lowered their price objective on shares of Evolent Health from $34.00 to $31.00 and set a "market outperform" rating on the stock in a research note on Friday, August 9th. Finally, Citigroup cut their target price on shares of Evolent Health from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Evolent Health presently has a consensus rating of "Buy" and an average target price of $34.90.

Evolent Health Stock Down 45.7 %

EVH traded down $11.22 during trading hours on Friday, hitting $13.35. 20,330,635 shares of the company's stock were exchanged, compared to its average volume of 1,705,920. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -14.67 and a beta of 1.58. Evolent Health has a 1-year low of $13.31 and a 1-year high of $35.00. The stock's 50-day moving average is $27.21 and its two-hundred day moving average is $24.98. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

Evolent Health (NYSE:EVH - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.21 by $0.09. The firm had revenue of $647.10 million for the quarter, compared to analysts' expectations of $636.46 million. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The company's revenue for the quarter was up 37.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 EPS. Sell-side analysts predict that Evolent Health will post 0.84 earnings per share for the current fiscal year.

Insider Activity at Evolent Health

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the transaction, the chief executive officer now owns 411,924 shares in the company, valued at $12,357,720. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 411,924 shares in the company, valued at $12,357,720. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Jonathan Weinberg sold 42,140 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the completion of the sale, the general counsel now owns 167,027 shares of the company's stock, valued at approximately $5,211,242.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 307,291 shares of company stock worth $9,290,385 in the last ninety days. 1.60% of the stock is owned by company insiders.

Institutional Trading of Evolent Health

Several large investors have recently modified their holdings of EVH. Quarry LP acquired a new position in Evolent Health during the second quarter valued at approximately $32,000. Covestor Ltd increased its stake in shares of Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company's stock valued at $40,000 after purchasing an additional 826 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Evolent Health by 5,365.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company's stock worth $45,000 after buying an additional 1,556 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Evolent Health during the 1st quarter worth $46,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Evolent Health in the second quarter valued at about $61,000.

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.