JPMorgan Chase & Co. Lowers Evolent Health (NYSE:EVH) Price Target to $13.00

Evolent Health (NYSE:EVH) had its target price lowered by stock analysts at JPMorgan Chase & Co. from $15.00 to $13.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 24.58% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Stephens cut their price target on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. KeyCorp initiated coverage on shares of Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective for the company. BTIG Research cut their target price on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Finally, Oppenheimer reduced their price target on Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $18.38.

Evolent Health Stock Performance

Evolent Health stock opened at $10.44 on Tuesday. Evolent Health has a fifty-two week low of $9.74 and a fifty-two week high of $35.00. The firm’s 50 day simple moving average is $11.36 and its 200-day simple moving average is $20.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $1.22 billion, a P/E ratio of -11.47 and a beta of 1.45.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.38). Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. The business had revenue of $621.40 million for the quarter, compared to analyst estimates of $625.58 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. As a group, equities research analysts predict that Evolent Health will post 0.26 EPS for the current year.

Institutional Investors Weigh In On Evolent Health

Several hedge funds and other institutional investors have recently modified their holdings of EVH. Wellington Management Group LLP boosted its holdings in Evolent Health by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after purchasing an additional 1,426,747 shares during the period. Eventide Asset Management LLC raised its position in shares of Evolent Health by 1.7% during the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock valued at $107,580,000 after buying an additional 64,985 shares during the last quarter. State Street Corp lifted its stake in shares of Evolent Health by 1.0% in the third quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after buying an additional 25,967 shares during the period. Bellevue Group AG grew its position in Evolent Health by 59.9% during the third quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after buying an additional 1,000,215 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Evolent Health by 1,948.5% during the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after acquiring an additional 1,422,385 shares during the period.

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.