Oppenheimer Cuts Evolent Health (NYSE:EVH) Price Target to $18.00

Evolent Health (NYSE:EVH) had its target price dropped by analysts at Oppenheimer from $28.00 to $18.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective suggests a potential upside of 73.91% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Truist Financial cut their price objective on Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. JMP Securities reduced their price target on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating for the company in a research report on Friday, January 10th. Canaccord Genuity Group lowered their price target on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Citigroup reduced their price objective on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, January 10th. One research 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, the stock has an average rating of “Buy” and an average target price of $18.54.

Evolent Health Stock Performance

Shares of EVH stock traded up $0.17 during mid-day trading on Friday, hitting $10.35. 410,111 shares of the stock were exchanged, compared to its average volume of 2,422,668. The stock’s fifty day simple moving average is $11.50 and its two-hundred day simple moving average is $20.44. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -11.40 and a beta of 1.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. Evolent Health has a 12-month low of $9.74 and a 12-month high of $35.00.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.38). Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. The company had revenue of $621.40 million for the quarter, compared to analysts’ expectations of $625.58 million. During the same period in the prior year, the company earned $0.19 earnings per share. On average, analysts forecast that Evolent Health will post 0.26 EPS for the current year.

Institutional Trading of Evolent Health

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after buying an additional 1,426,747 shares during the last quarter. Eventide Asset Management LLC raised its holdings in shares of Evolent Health by 1.7% in the 3rd quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock worth $107,580,000 after purchasing an additional 64,985 shares during the period. State Street Corp lifted its stake in shares of Evolent Health by 1.0% in the 3rd quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after purchasing an additional 25,967 shares in the last quarter. Bellevue Group AG grew its holdings in shares of Evolent Health by 59.9% during the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after purchasing an additional 1,000,215 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Evolent Health by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company’s stock valued at $45,286,000 after buying an additional 121,770 shares during the period.

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.