Oppenheimer Lowers Evolent Health (NYSE:EVH) Price Target to $18.00

Evolent Health (NYSE:EVH) had its price target reduced by Oppenheimer from $28.00 to $18.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other analysts have also weighed in on EVH. Canaccord Genuity Group cut their price objective on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday. KeyCorp initiated coverage on Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective for the company. Truist Financial reduced their target price on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Royal Bank of Canada lowered their price target on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. Finally, BTIG Research reduced their price objective on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $18.54.

Evolent Health Stock Performance

NYSE:EVH opened at $10.11 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50 day moving average price of $11.45 and a 200 day moving average price of $20.39. Evolent Health has a fifty-two week low of $9.74 and a fifty-two week high of $35.00. The stock has a market capitalization of $1.18 billion, a P/E ratio of -11.10 and a beta of 1.45.

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

Hedge Funds Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tempus Wealth Planning LLC acquired a new position in shares of Evolent Health in the fourth quarter valued at approximately $240,000. Chicago Capital LLC increased its stake in shares of Evolent Health by 209.1% during the fourth quarter. Chicago Capital LLC now owns 31,134 shares of the technology company’s stock worth $350,000 after acquiring an additional 21,061 shares during the period. Chicago Partners Investment Group LLC lifted its position in Evolent Health by 50.0% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,643 shares of the technology company’s stock valued at $153,000 after purchasing an additional 4,547 shares during the period. R Squared Ltd purchased a new stake in Evolent Health in the 4th quarter valued at approximately $31,000. Finally, KBC Group NV raised its stake in shares of Evolent Health by 124.6% during the 4th quarter. KBC Group NV now owns 6,741 shares of the technology company’s stock worth $76,000 after buying an additional 3,739 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.