JPMorgan Chase & Co. Lowers Evolent Health (NYSE:EVH) Price Target to $12.00

Evolent Health (NYSE:EVH) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $13.00 to $12.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 28.14% from the stock’s previous close.

A number of other research firms have also recently weighed in on EVH. Canaccord Genuity Group lowered their target price on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Truist Financial lowered their target price on Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Oppenheimer lowered their target price on Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 24th. UBS Group lowered their target price on Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Royal Bank of Canada lowered their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $17.71.

Evolent Health Stock Up 2.9 %

NYSE EVH opened at $9.37 on Monday. 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 business has a fifty day moving average price of $10.29 and a 200 day moving average price of $17.28. The company has a market cap of $1.09 billion, a P/E ratio of -11.42 and a beta of 1.49. Evolent Health has a one year low of $8.35 and a one year high of $34.07.

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

Insider Transactions at Evolent Health

In other news, Director Diane Holder purchased 2,735 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the purchase, the director now directly owns 70,584 shares of the company’s stock, valued at $658,548.72. This represents a 4.03 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brendan B. Springstubb purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the purchase, the director now directly owns 11,842 shares in the company, valued at $103,617.50. The trade was a 73.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 74,000 shares of company stock valued at $666,315. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EVH. Cadian Capital Management LP purchased a new position in shares of Evolent Health in the 4th quarter valued at approximately $58,781,000. Wellington Management Group LLP boosted its stake in shares of Evolent Health by 12.8% in the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after buying an additional 1,426,747 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Evolent Health by 1,948.5% in 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 buying an additional 1,422,385 shares in the last quarter. Engaged Capital LLC boosted its stake in shares of Evolent Health by 35.5% in the fourth quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock valued at $60,804,000 after buying an additional 1,415,300 shares in the last quarter. Finally, Boston Partners boosted its stake in shares of Evolent Health by 92.0% in the fourth quarter. Boston Partners now owns 2,444,006 shares of the technology company’s stock valued at $27,097,000 after buying an additional 1,171,304 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.