Royal Bank of Canada Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price target dropped by Royal Bank of Canada from $20.00 to $17.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 47.44% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Stephens cut Evolent Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $38.00 to $16.00 in a research report on Friday, November 8th. Barclays lowered their target price on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. BTIG Research cut their price target on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Citigroup decreased their price target on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. dropped their price objective on Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $22.58.

Evolent Health Stock Performance

Shares of NYSE:EVH traded down $0.86 during midday trading on Tuesday, reaching $11.53. 1,603,642 shares of the company traded hands, compared to its average volume of 1,548,367. The firm’s fifty day moving average price is $12.69 and its two-hundred day moving average price is $20.97. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -12.67 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a 12 month low of $10.53 and a 12 month high of $35.00.

Hedge Funds Weigh In On Evolent Health

Institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its holdings in shares of Evolent Health by 8.3% during the 2nd quarter. Rhumbline Advisers now owns 180,059 shares of the technology company’s stock valued at $3,443,000 after purchasing an additional 13,867 shares during the last quarter. Arizona State Retirement System boosted its position in 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 buying an additional 649 shares during the period. Quest Partners LLC bought a new position in shares of Evolent Health during the second quarter valued at about $87,000. Federated Hermes Inc. purchased a new position in shares of Evolent Health in the second quarter worth about $6,273,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Evolent Health by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company’s stock valued at $45,286,000 after acquiring an additional 121,770 shares during the last quarter.

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.