Evolent Health (NYSE:EVH) Sets New 1-Year Low on Analyst Downgrade

Evolent Health, Inc. (NYSE:EVH) shares reached a new 52-week low during trading on Thursday after Citigroup lowered their price target on the stock from $33.00 to $21.00. Citigroup currently has a buy rating on the stock. Evolent Health traded as low as $12.33 and last traded at $12.44, with a volume of 1120664 shares traded. The stock had previously closed at $12.75.

A number of other research firms have also issued reports on EVH. KeyCorp assumed coverage on Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price on the stock. Oppenheimer dropped their target price on Evolent Health from $45.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. JMP Securities dropped their target price on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. Stephens lowered Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $38.00 to $16.00 in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their target price on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 19th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Evolent Health has a consensus rating of “Buy” and an average target price of $29.50.

Insider Buying and Selling

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the sale, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. The trade was a 31.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total value of $731,876.77. Following the sale, the president now owns 198,809 shares in the company, valued at approximately $6,141,210.01. The trade was a 10.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 307,291 shares of company stock valued at $9,290,385 over the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Evolent Health

A number of institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Evolent Health by 3.2% during the second quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock worth $298,000 after purchasing an additional 480 shares in the last quarter. Ascent Group LLC boosted its stake in shares of Evolent Health by 2.8% during the first quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock valued at $667,000 after acquiring an additional 550 shares during the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of Evolent Health by 6.3% during the second quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock valued at $195,000 after acquiring an additional 600 shares during the last quarter. American International Group Inc. boosted its stake in shares of Evolent Health by 1.2% during the first quarter. American International Group Inc. now owns 55,402 shares of the technology company’s stock valued at $1,817,000 after acquiring an additional 640 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Evolent Health by 2.3% during the second quarter. Arizona State Retirement System now owns 29,083 shares of the technology company’s stock valued at $556,000 after acquiring an additional 649 shares during the last quarter.

Evolent Health Trading Down 0.6 %

The company has a quick ratio of 1.08, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -13.92 and a beta of 1.58. The business has a 50 day moving average of $25.47 and a 200 day moving average of $24.45.

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.