Truist Financial Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price objective dropped by research analysts at Truist Financial from $20.00 to $15.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Truist Financial’s target price points to a potential upside of 51.21% from the company’s current price.

Other equities analysts also recently issued research reports about the company. JMP Securities decreased their target price on Evolent Health from $27.00 to $18.00 and set a “market outperform” rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. reduced their target price on Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Needham & Company LLC started coverage on Evolent Health in a report on Friday, January 10th. They set a “buy” rating and a $15.00 target price on the stock. Stephens reduced their price objective on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, BTIG Research cut their price target on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Evolent Health has an average rating of “Buy” and an average price target of $21.23.

Evolent Health Stock Down 2.5 %

Shares of EVH traded down $0.25 during midday trading on Wednesday, hitting $9.92. The stock had a trading volume of 460,334 shares, compared to its average volume of 2,458,384. The company has a 50 day simple moving average of $11.60 and a two-hundred day simple moving average of $20.59. Evolent Health has a twelve month low of $9.74 and a twelve month high of $35.00. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -10.90 and a beta of 1.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, November 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.38). The company had revenue of $621.40 million during the quarter, compared to analyst estimates of $625.58 million. Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. During the same period in the prior year, the firm posted $0.19 EPS. On average, analysts anticipate that Evolent Health will post 0.26 EPS for the current year.

Hedge Funds Weigh In On Evolent Health

Several institutional investors have recently bought and sold shares of EVH. Royce & Associates LP bought a new stake in Evolent Health during the 3rd quarter valued at $7,070,000. Foundry Partners LLC purchased a new stake in shares of Evolent Health in the third quarter worth $10,042,000. Harbor Capital Advisors Inc. raised its position in shares of Evolent Health by 140.0% in the third quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock worth $11,946,000 after buying an additional 246,400 shares in the last quarter. Salem Investment Counselors Inc. raised its position in Evolent Health by 53.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock valued at $3,939,000 after purchasing an additional 121,369 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Evolent Health by 7.0% during the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock valued at $1,469,000 after purchasing an additional 8,552 shares in 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.