Evolent Health (NYSE:EVH) Price Target Lowered to $18.00 at Citigroup

Evolent Health (NYSE:EVH) had its price objective lowered by Citigroup from $21.00 to $18.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

EVH has been the topic of a number of other reports. Barclays lowered their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. JMP Securities reduced their target price on Evolent Health from $27.00 to $18.00 and set a “market outperform” rating for the company in a report on Friday. BTIG Research reduced their target price on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Finally, Oppenheimer reduced their target price on Evolent Health from $34.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, November 18th. 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’s stock. Based on data from MarketBeat, Evolent Health has an average rating of “Buy” and a consensus target price of $23.92.

Evolent Health Stock Performance

Shares of EVH stock opened at $12.57 on Friday. Evolent Health has a 52 week low of $10.53 and a 52 week high of $35.00. The firm has a 50 day moving average of $13.13 and a 200-day moving average of $21.09. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -13.81 and a beta of 1.45.

Institutional Trading of Evolent Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in shares of Evolent Health by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after purchasing an additional 1,426,747 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Evolent Health by 1,948.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock worth $42,289,000 after acquiring an additional 1,422,385 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of Evolent Health by 35.2% during the 2nd 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 during the last quarter. First Light Asset Management LLC lifted its stake in shares of Evolent Health by 401.5% during the 2nd quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock worth $27,634,000 after acquiring an additional 1,157,124 shares during the last quarter. Finally, Bellevue Group AG lifted its stake 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 acquiring an additional 1,000,215 shares during the last quarter.

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.