Oppenheimer Cuts Evolent Health (NYSE:EVH) Price Target to $34.00

Evolent Health (NYSE:EVH) had its price objective decreased by research analysts at Oppenheimer from $45.00 to $34.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective would suggest a potential upside of 154.49% from the company’s current price.

Several other equities research analysts have also recently weighed in on EVH. Stephens cut Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $38.00 to $16.00 in a report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price objective on shares of Evolent Health in a report on Tuesday, October 8th. Citigroup dropped their target price on shares of Evolent Health from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, JMP Securities reduced their price target on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. One equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $34.90.

Evolent Health Trading Down 45.6 %

Shares of NYSE EVH traded down $11.21 during mid-day trading on Friday, hitting $13.36. The stock had a trading volume of 20,358,923 shares, compared to its average volume of 1,565,870. The firm has a market cap of $1.55 billion, a P/E ratio of -14.21 and a beta of 1.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. The business has a 50 day moving average price of $26.84 and a two-hundred day moving average price of $24.83. Evolent Health has a 1 year low of $13.31 and a 1 year high of $35.00.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.21 by $0.09. The firm had revenue of $647.10 million during the quarter, compared to the consensus estimate of $636.46 million. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The company’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 earnings per share. On average, equities analysts anticipate that Evolent Health will post 0.84 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Jonathan Weinberg sold 42,140 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total value of $1,314,768.00. Following the transaction, the general counsel now owns 167,027 shares in the company, valued at $5,211,242.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, General Counsel Jonathan Weinberg sold 42,140 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the completion of the sale, the general counsel now owns 167,027 shares of the company’s stock, valued at $5,211,242.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Emily Ann Rafferty sold 8,861 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $265,830.00. Following the completion of the transaction, the chief operating officer now directly owns 63,408 shares in the company, valued at $1,902,240. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 307,291 shares of company stock worth $9,290,385 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Evolent Health

Several institutional investors have recently modified their holdings of the business. RA Capital Management L.P. lifted its stake in Evolent Health by 125.0% during the 1st quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock valued at $188,088,000 after acquiring an additional 3,187,000 shares during the period. William Blair Investment Management LLC lifted its position in Evolent Health by 35.2% during the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after purchasing an additional 1,308,376 shares during the period. First Light Asset Management LLC boosted its holdings in Evolent Health by 401.5% in the second quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock worth $27,634,000 after purchasing an additional 1,157,124 shares during the last quarter. Engaged Capital LLC boosted its holdings in Evolent Health by 26.1% in the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after purchasing an additional 850,000 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Evolent Health by 24.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,048,341 shares of the technology company’s stock worth $39,164,000 after purchasing an additional 406,837 shares during the period.

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.