Truist Financial Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price target reduced by stock analysts at Truist Financial from $20.00 to $15.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Truist Financial’s target price suggests a potential upside of 51.21% from the stock’s previous close.

Several other equities analysts have also recently commented on EVH. Stephens lowered their price target on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday. Barclays lowered 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. Needham & Company LLC assumed coverage on shares of Evolent Health in a report on Friday, January 10th. They issued a “buy” rating and a $15.00 price objective for the company. Citigroup decreased their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, 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 report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Evolent Health presently has an average rating of “Buy” and a consensus price target of $21.23.

Evolent Health Price Performance

Shares of NYSE EVH traded down $0.25 during trading on Wednesday, hitting $9.92. The company had a trading volume of 460,334 shares, compared to its average volume of 2,458,384. The business’s 50-day moving average is $11.60 and its 200 day moving average is $20.59. 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 52 week low of $9.74 and a 52 week high of $35.00. The company has a market cap of $1.16 billion, a P/E ratio of -10.90 and a beta of 1.45.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, November 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.38). Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. The firm had revenue of $621.40 million for the quarter, compared to analyst estimates of $625.58 million. During the same period last year, the firm earned $0.19 earnings per share. Equities research analysts predict that Evolent Health will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EVH. Royce & Associates LP bought a new position in Evolent Health during the third quarter worth about $7,070,000. Foundry Partners LLC bought a new position in Evolent Health during the third quarter worth about $10,042,000. Harbor Capital Advisors Inc. lifted its holdings in Evolent Health by 140.0% during the third quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock worth $11,946,000 after acquiring an additional 246,400 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in Evolent Health by 53.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock worth $3,939,000 after acquiring an additional 121,369 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Evolent Health by 7.0% during the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock worth $1,469,000 after acquiring an additional 8,552 shares in 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.