Evolent Health (NYSE:EVH) Stock Price Down 2% on Analyst Downgrade

Shares of Evolent Health, Inc. (NYSE:EVH) fell 2% on Wednesday after UBS Group lowered their price target on the stock from $27.00 to $14.00. UBS Group currently has a buy rating on the stock. Evolent Health traded as low as $10.89 and last traded at $10.96. 679,469 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 1,678,069 shares. The stock had previously closed at $11.18.

A number of other research analysts also recently weighed in on EVH. Barclays dropped their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Truist Financial reduced their target price on Evolent Health from $24.00 to $20.00 and set a “buy” rating for the company in a report on Monday. Oppenheimer lowered their price objective on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, November 18th. Citigroup lowered their target price on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Stephens cut shares of Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $38.00 to $16.00 in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Evolent Health currently has an average rating of “Buy” and a consensus target price of $21.92.

Institutional Investors Weigh In On Evolent Health

Large investors have recently made changes to their positions in the company. Royce & Associates LP bought a new stake in Evolent Health in the third quarter worth $7,070,000. Foundry Partners LLC purchased a new stake in shares of Evolent Health in the 3rd quarter worth $10,042,000. Harbor Capital Advisors Inc. grew its holdings in Evolent Health by 140.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock worth $11,946,000 after acquiring an additional 246,400 shares in the last quarter. Salem Investment Counselors Inc. increased its holdings in Evolent Health by 53.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock valued at $3,939,000 after buying an additional 121,369 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Evolent Health by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock worth $1,469,000 after acquiring an additional 8,552 shares in the last quarter.

Evolent Health Price Performance

The stock’s fifty day simple moving average is $12.15 and its 200 day simple moving average is $20.84. 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 firm has a market capitalization of $1.19 billion, a P/E ratio of -11.18 and a beta of 1.45.

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.