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

Evolent Health (NYSE:EVH) had its price target lowered by Oppenheimer from $28.00 to $18.00 in a report released on Friday,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Stephens cut their price objective on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday. Citigroup reduced their price target on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Needham & Company LLC initiated coverage on Evolent Health in a research report on Friday, January 10th. They issued a “buy” rating and a $15.00 price objective for the company. Truist Financial cut their target price on Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Canaccord Genuity Group decreased their price target on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $18.54.

Evolent Health Trading Down 0.7 %

Shares of Evolent Health stock opened at $10.11 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $11.45 and its 200-day simple moving average is $20.38. The stock has a market cap of $1.18 billion, a P/E ratio of -11.10 and a beta of 1.45. Evolent Health has a 1-year low of $9.74 and a 1-year high of $35.00.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, November 7th. The technology company reported ($0.08) earnings per share (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 during the quarter, compared to analysts’ expectations of $625.58 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. Analysts predict that Evolent Health will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EVH. Covestor Ltd lifted its stake in Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after purchasing an additional 826 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Evolent Health by 5,365.5% during the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after buying an additional 1,556 shares during the last quarter. Quarry LP acquired a new position in shares of Evolent Health in the second quarter valued at approximately $32,000. R Squared Ltd purchased a new position in Evolent Health during the 4th quarter worth $31,000. Finally, Canada Pension Plan Investment Board purchased a new position in Evolent Health during the second quarter worth about $61,000.

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.