Evolent Health (NYSE:EVH) Given New $28.00 Price Target at Oppenheimer

Evolent Health (NYSE:EVH) had its price objective trimmed by Oppenheimer from $34.00 to $28.00 in a research note published on Monday,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. JMP Securities lowered 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 research report on Friday, August 9th. Citigroup decreased their price target on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Barclays decreased their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price target on shares of Evolent Health in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $28.90.

Evolent Health Price Performance

EVH stock opened at $12.35 on Monday. The company has a 50 day simple moving average of $24.75 and a 200 day simple moving average of $24.19. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -13.57 and a beta of 1.58. Evolent Health has a 1 year low of $12.18 and a 1 year high of $35.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.08.

Insider Transactions at Evolent Health

In other news, COO Emily Ann Rafferty sold 8,861 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $265,830.00. Following the completion of the sale, the chief operating officer now directly owns 63,408 shares in the company, valued at $1,902,240. This represents a 12.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 of the company’s stock, valued at approximately $12,357,720. This trade represents a 31.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 307,291 shares of company stock worth $9,290,385 over the last three months. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Evolent Health

Several large investors have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Evolent Health by 12.8% during the third 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 period. Vanguard Group Inc. boosted its stake in Evolent Health by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock worth $357,905,000 after acquiring an additional 93,739 shares in the last quarter. RA Capital Management L.P. boosted its stake in Evolent Health by 125.0% during the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock worth $188,088,000 after acquiring an additional 3,187,000 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Evolent Health by 35.2% during the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after acquiring an additional 1,308,376 shares in the last quarter. Finally, Engaged Capital LLC boosted its stake in Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after acquiring an additional 850,000 shares in the last quarter.

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.