Truist Financial Cuts Evolent Health (NYSE:EVH) Price Target to $20.00

Evolent Health (NYSE:EVH) had its price target reduced by investment analysts at Truist Financial from $24.00 to $20.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Truist Financial’s target price indicates a potential upside of 78.25% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price objective on shares of Evolent Health in a research report on Tuesday, November 12th. JPMorgan Chase & Co. reduced their price target on Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Stephens lowered Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $38.00 to $16.00 in a research note on Friday, November 8th. Needham & Company LLC started coverage on Evolent Health in a research note on Friday, January 10th. They set a “buy” rating and a $15.00 target price for the company. Finally, Citigroup decreased their target price on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $22.58.

Evolent Health Price Performance

NYSE:EVH opened at $11.22 on Monday. The stock has a market capitalization of $1.31 billion, a PE ratio of -12.33 and a beta of 1.45. Evolent Health has a 1-year low of $10.53 and a 1-year high of $35.00. The firm has a fifty day simple moving average of $12.69 and a 200 day simple moving average of $20.97. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers raised its position in shares of Evolent Health by 8.3% in the 2nd quarter. Rhumbline Advisers now owns 180,059 shares of the technology company’s stock valued at $3,443,000 after buying an additional 13,867 shares in the last quarter. Arizona State Retirement System raised its position in Evolent Health by 2.3% during the second quarter. Arizona State Retirement System now owns 29,083 shares of the technology company’s stock valued at $556,000 after purchasing an additional 649 shares in the last quarter. Quest Partners LLC bought a new stake in Evolent Health during the second quarter worth $87,000. Federated Hermes Inc. acquired a new stake in shares of Evolent Health in the 2nd quarter valued at $6,273,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Evolent Health by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company’s stock valued at $45,286,000 after purchasing an additional 121,770 shares during 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.