Evolent Health (NYSE:EVH) Stock Price Down 3.8% Following Analyst Downgrade

Evolent Health, Inc. (NYSE:EVH) shares traded down 3.8% during mid-day trading on Wednesday after Citigroup lowered their price target on the stock from $33.00 to $21.00. Citigroup currently has a buy rating on the stock. Evolent Health traded as low as $13.84 and last traded at $13.89. 163,834 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 1,739,068 shares. The stock had previously closed at $14.44.

Other equities analysts also recently issued research reports about the stock. JMP Securities decreased their price objective on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. KeyCorp initiated coverage on Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective for the company. Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $38.00 to $16.00 in a research note on Friday, November 8th. Barclays cut their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Truist Financial reaffirmed a “buy” rating and set a $33.00 price objective on shares of Evolent Health in a research note on Tuesday, August 27th. One 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. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $29.50.

Insider Buying and Selling

In related news, President Daniel Joseph Mccarthy sold 23,693 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the transaction, the president now directly owns 198,809 shares in the company, valued at $6,141,210.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Daniel Joseph Mccarthy sold 23,693 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the completion of the transaction, the president now owns 198,809 shares in the company, valued at $6,141,210.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Seth Blackley sold 187,904 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the transaction, the chief executive officer now owns 411,924 shares of the company’s stock, valued at approximately $12,357,720. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 307,291 shares of company stock worth $9,290,385 in the last quarter. Insiders own 1.60% of the company’s stock.

Institutional Trading of Evolent Health

Several large investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of Evolent Health during the second quarter valued at about $32,000. Covestor Ltd grew its holdings in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after acquiring an additional 826 shares during the last quarter. GAMMA Investing LLC increased 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 worth $45,000 after purchasing an additional 1,556 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Evolent Health during the 1st quarter worth approximately $46,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Evolent Health in the 2nd quarter valued at $61,000.

Evolent Health Stock Down 11.6 %

The company has a market cap of $1.49 billion, a price-to-earnings ratio of -14.07 and a beta of 1.58. The stock’s 50-day moving average is $26.17 and its 200-day moving average is $24.61. The company has a current ratio of 1.04, a quick ratio of 1.08 and a debt-to-equity ratio of 0.58.

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.