Evolent Health (NYSE:EVH) Price Target Cut to $18.00 by Analysts at Citigroup

Evolent Health (NYSE:EVH) had its price target reduced by Citigroup from $21.00 to $18.00 in a research report sent to investors on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

A number of other research analysts also recently weighed in on EVH. BTIG Research cut their price target on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Barclays cut their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Oppenheimer cut their price target on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, November 18th. Royal Bank of Canada restated an “outperform” rating and set a $20.00 price target on shares of Evolent Health in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $23.92.

Evolent Health Trading Down 0.2 %

Shares of NYSE:EVH opened at $12.57 on Friday. The firm has a fifty day moving average of $13.13 and a two-hundred day moving average of $21.09. The firm has a market capitalization of $1.47 billion, a P/E ratio of -13.81 and a beta of 1.45. Evolent Health has a 12-month low of $10.53 and a 12-month high of $35.00. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in shares of Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after acquiring an additional 1,426,747 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 worth $96,098,000 after purchasing an additional 1,308,376 shares during the period. Engaged Capital LLC lifted its position in Evolent Health by 26.1% during 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 period. Eventide Asset Management LLC lifted its position in Evolent Health by 1.7% during the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock worth $107,580,000 after purchasing an additional 64,985 shares during the period. Finally, State Street Corp lifted its holdings in shares of Evolent Health by 1.0% in the third quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock worth $77,074,000 after acquiring an additional 25,967 shares during the last quarter.

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.