Evolent Health (NYSE:EVH) Reaches New 52-Week Low – Here’s What Happened

Evolent Health, Inc. (NYSE:EVH) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $15.51 and last traded at $15.51, with a volume of 258769 shares traded. The stock had previously closed at $24.57.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EVH. KeyCorp began coverage on Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price target for the company. JMP Securities reduced their price target on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Citigroup reduced their target price on Evolent Health from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, Stephens lowered Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $38.00 to $16.00 in a research note on Friday. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $36.00.

Evolent Health Price Performance

The firm has a market capitalization of $1.66 billion, a P/E ratio of -14.93 and a beta of 1.58. The business’s 50-day simple moving average is $27.21 and its 200 day simple 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) last released its earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.09. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The company had revenue of $647.10 million for the quarter, compared to the consensus estimate of $636.46 million. During the same period in the previous year, the business earned $0.06 earnings per share. Evolent Health’s quarterly revenue was up 37.9% compared to the same quarter last year. Sell-side analysts forecast that Evolent Health, Inc. will post 0.84 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Seth Blackley sold 187,904 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 411,924 shares in the company, valued at $12,357,720. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 sale, the chief executive officer now owns 411,924 shares in the company, valued at approximately $12,357,720. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Paul Johnson sold 44,693 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $1,340,790.00. Following the completion of the transaction, the chief financial officer now directly owns 171,207 shares in the company, valued at $5,136,210. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 307,291 shares of company stock worth $9,290,385 in the last ninety days. 1.60% of the stock is owned by insiders.

Institutional Trading of Evolent Health

A number of hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in shares of Evolent Health by 3.2% in the 2nd quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock valued at $298,000 after acquiring an additional 480 shares during the last quarter. Ascent Group LLC boosted its stake in shares of Evolent Health by 2.8% in the 1st quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock valued at $667,000 after purchasing an additional 550 shares in the last quarter. SeaCrest Wealth Management LLC increased its position in Evolent Health by 6.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock valued at $195,000 after acquiring an additional 600 shares during the period. American International Group Inc. boosted its stake in shares of Evolent Health by 1.2% in the 1st quarter. American International Group Inc. now owns 55,402 shares of the technology company’s stock valued at $1,817,000 after purchasing an additional 640 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Evolent Health by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 29,083 shares of the technology company’s stock valued at $556,000 after acquiring an additional 649 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.