Evolent Health (NYSE:EVH) Reaches New 52-Week Low After Analyst Downgrade

Evolent Health, Inc. (NYSE:EVH)’s stock price hit a new 52-week low during mid-day trading on Thursday after UBS Group lowered their price target on the stock from $27.00 to $14.00. UBS Group currently has a buy rating on the stock. Evolent Health traded as low as $9.93 and last traded at $10.01, with a volume of 6957802 shares trading hands. The stock had previously closed at $11.18.

Other analysts have also recently issued reports about the stock. Stephens cut shares of Evolent Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $38.00 to $16.00 in a research note on Friday, November 8th. Barclays lowered their price objective on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Citigroup cut their target price on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, January 10th. KeyCorp assumed coverage on Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada cut their price objective on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $21.92.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Royce & Associates LP bought a new stake in Evolent Health during the third quarter worth approximately $7,070,000. Foundry Partners LLC purchased a new stake in Evolent Health during the 3rd quarter valued at $10,042,000. Harbor Capital Advisors Inc. lifted its position 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 buying an additional 246,400 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in Evolent Health by 53.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock worth $3,939,000 after buying an additional 121,369 shares during the period. Finally, Nordea Investment Management AB increased its position in 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 acquiring an additional 8,552 shares during the last quarter.

Evolent Health Trading Down 1.4 %

The company’s 50 day moving average price is $11.79 and its two-hundred day moving average price is $20.71. The firm has a market cap of $1.17 billion, a PE ratio of -11.01 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

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.