Evolent Health (NYSE:EVH) Downgraded by Stephens to “Equal Weight”

Stephens cut shares of Evolent Health (NYSE:EVH) from an overweight rating to an equal weight rating in a report issued on Friday morning, MarketBeat reports. Stephens currently has $16.00 price objective on the technology company’s stock, down from their prior price objective of $38.00.

EVH has been the topic of a number of other research reports. Truist Financial reissued a “buy” rating and set a $33.00 price target on shares of Evolent Health in a report on Tuesday, August 27th. KeyCorp initiated coverage on Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price target for the company. Citigroup lowered their price objective on shares of Evolent Health from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. JMP Securities decreased their price target on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price target on shares of Evolent Health in a research report on Tuesday, October 8th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $32.90.

Evolent Health Stock Up 13.2 %

Shares of NYSE EVH opened at $15.13 on Friday. Evolent Health has a 12-month low of $13.31 and a 12-month high of $35.00. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.76 billion, a P/E ratio of -16.63 and a beta of 1.58. The business’s fifty day simple moving average is $26.50 and its 200-day simple moving average is $24.70.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, President Daniel Joseph Mccarthy sold 23,693 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the sale, the president now owns 198,809 shares in the company, valued at approximately $6,141,210.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Evolent Health news, General Counsel Jonathan Weinberg sold 42,140 shares of Evolent Health stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Daniel Joseph Mccarthy sold 23,693 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total transaction of $731,876.77. Following the completion of the transaction, the president now owns 198,809 shares in the company, valued at approximately $6,141,210.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 307,291 shares of company stock worth $9,290,385. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Evolent Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Evolent Health during the 2nd quarter valued at $32,000. Covestor Ltd raised its holdings in Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after acquiring an additional 826 shares during the period. GAMMA Investing LLC raised its holdings in Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after acquiring an additional 1,556 shares during the period. Headlands Technologies LLC bought a new position in Evolent Health in the 1st quarter worth $46,000. Finally, Canada Pension Plan Investment Board bought a new position in Evolent Health in the 2nd quarter worth $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.