Evolent Health (NYSE:EVH) Price Target Lowered to $33.00 at Citigroup

Evolent Health (NYSE:EVH) had its price target cut by investment analysts at Citigroup from $35.00 to $33.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective points to a potential upside of 41.81% from the company’s current price.

Several other brokerages also recently weighed in on EVH. KeyCorp assumed coverage on Evolent Health in a research report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price objective on shares of Evolent Health in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Stephens restated an “overweight” rating and set a $42.00 price target on shares of Evolent Health in a report on Tuesday, July 30th. Finally, Truist Financial restated a “buy” rating and set a $33.00 price target on shares of Evolent Health in a report on Tuesday, August 27th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $38.60.

Evolent Health Price Performance

NYSE:EVH traded down $0.34 during mid-day trading on Tuesday, reaching $23.27. The stock had a trading volume of 832,322 shares, compared to its average volume of 1,621,475. The firm has a 50 day moving average price of $28.34 and a two-hundred day moving average price of $25.25. The stock has a market capitalization of $2.70 billion, a P/E ratio of -18.62 and a beta of 1.56. Evolent Health has a one year low of $17.98 and a one year high of $35.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data 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 firm had revenue of $647.10 million during the quarter, compared to the consensus estimate of $636.46 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s revenue was up 37.9% on a year-over-year basis. As a group, analysts expect that Evolent Health will post 0.84 earnings per share for the current year.

Insiders Place Their Bets

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the transaction, the chief executive officer now directly owns 411,924 shares of the company’s stock, valued at approximately $12,357,720. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Seth Blackley sold 187,904 shares of Evolent Health stock in a transaction dated 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 transaction, the chief executive officer now directly owns 411,924 shares of the company’s stock, valued at $12,357,720. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Jonathan Weinberg sold 42,140 shares of Evolent Health stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total value of $1,314,768.00. Following the transaction, the general counsel now directly owns 167,027 shares in the company, valued at approximately $5,211,242.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 307,291 shares of company stock valued at $9,290,385. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EVH. RA Capital Management L.P. lifted its position in shares of Evolent Health by 125.0% during the 1st quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock valued at $188,088,000 after buying an additional 3,187,000 shares in the last quarter. William Blair Investment Management LLC raised its stake in 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 valued at $96,098,000 after purchasing an additional 1,308,376 shares during the period. First Light Asset Management LLC raised its stake in 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 valued at $27,634,000 after purchasing an additional 1,157,124 shares during the period. Engaged Capital LLC raised its stake in Evolent Health by 26.1% during the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after purchasing an additional 850,000 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Evolent Health by 24.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,048,341 shares of the technology company’s stock valued at $39,164,000 after purchasing an additional 406,837 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.