Evolent Health (NYSE:EVH) Price Target Cut to $14.00 by Analysts at Truist Financial

Evolent Health (NYSE:EVH) had its price objective reduced by Truist Financial from $15.00 to $14.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research analysts have also commented on EVH. Canaccord Genuity Group lowered their price target on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of Evolent Health in a research note on Friday, February 21st. Citigroup cut their target price on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada decreased their price target on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, January 14th. Finally, Oppenheimer lowered their price objective on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 24th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $17.64.

Evolent Health Stock Performance

NYSE:EVH opened at $10.02 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. Evolent Health has a fifty-two week low of $8.35 and a fifty-two week high of $33.63. The firm has a market cap of $1.17 billion, a PE ratio of -12.22 and a beta of 1.20. The business has a 50 day moving average price of $9.71 and a 200-day moving average price of $13.85.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.35). The firm had revenue of $646.54 million for 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%. Equities research analysts predict that Evolent Health will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, Director Diane Holder acquired 2,735 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $9.33 per share, with a total value of $25,517.55. Following the completion of the transaction, the director now directly owns 70,584 shares of the company’s stock, valued at approximately $658,548.72. This represents a 4.03 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Seth Blackley bought 55,225 shares of the stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $9.01 per share, for a total transaction of $497,577.25. Following the purchase, the chief executive officer now directly owns 762,217 shares in the company, valued at approximately $6,867,575.17. This trade represents a 7.81 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 74,000 shares of company stock worth $666,315. 1.60% of the stock is owned by insiders.

Institutional Trading of Evolent Health

A number of large investors have recently made changes to their positions in EVH. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Evolent Health during the 4th quarter valued at about $26,000. R Squared Ltd purchased a new stake in Evolent Health during the fourth quarter valued at approximately $31,000. AlphaQuest LLC boosted its stake in shares of Evolent Health by 21,650.0% during the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after acquiring an additional 3,031 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Evolent Health by 90.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after purchasing an additional 2,358 shares in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new position in Evolent Health during the fourth quarter valued at $61,000.

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.