Evolent Health (NYSE:EVH) Reaches New 12-Month Low – Time to Sell?

Evolent Health, Inc. (NYSE:EVH) shares reached a new 52-week low on Thursday . The stock traded as low as $9.40 and last traded at $9.48, with a volume of 2927141 shares traded. The stock had previously closed at $10.47.

Analyst Upgrades and Downgrades

EVH has been the topic of several recent research reports. Royal Bank of Canada decreased their price target on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. BTIG Research decreased their price target on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price target (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. JPMorgan Chase & Co. reduced their price objective on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Stephens reduced 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 note on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $17.79.

Evolent Health Price Performance

The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -10.95 and a beta of 1.45. The stock’s 50-day moving average price is $10.61 and its 200 day moving average price is $18.39. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.35). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The company had revenue of $646.54 million for the quarter, compared to analysts’ expectations of $650.92 million. Equities research analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

A number of institutional investors have recently modified their holdings of the business. Covestor Ltd increased its stake in Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after buying an additional 826 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Evolent Health in the 4th quarter worth about $26,000. R Squared Ltd purchased a new stake in shares of Evolent Health in the 4th quarter worth about $31,000. AlphaQuest LLC boosted its position in shares of Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after buying an additional 3,031 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Evolent Health by 90.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after buying an additional 2,358 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.