Evolent Health (NYSE:EVH) Reaches New 52-Week Low – Here’s Why

Evolent Health, Inc. (NYSE:EVH)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $15.51 and last traded at $15.51, with a volume of 258769 shares. The stock had previously closed at $24.57.

Analyst Ratings Changes

A number of research analysts have recently issued reports on EVH shares. Citigroup dropped their target price on Evolent Health from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Truist Financial reiterated a “buy” rating and issued a $33.00 price target on shares of Evolent Health in a research report on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price objective on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Royal Bank of Canada restated an “outperform” rating and set a $42.00 target price on shares of Evolent Health in a research report on Tuesday, October 8th. Finally, JMP Securities dropped their price target on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $36.00.

Evolent Health Stock Down 41.8 %

The business has a 50 day moving average price of $27.21 and a 200 day moving average price of $24.98. The firm has a market capitalization of $1.66 billion, a P/E ratio of -14.93 and a beta of 1.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The business had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. During the same period in the prior year, the company earned $0.06 EPS. Evolent Health’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, analysts predict that Evolent Health, Inc. will post 0.84 earnings per share for the current year.

Insiders Place Their Bets

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the sale, the chief executive officer now owns 411,924 shares of the company’s stock, valued at $12,357,720. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Seth Blackley sold 187,904 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the sale, the chief executive officer now directly owns 411,924 shares of the company’s stock, valued at approximately $12,357,720. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 307,291 shares of company stock valued at $9,290,385. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EVH. Headlands Technologies LLC purchased a new stake in Evolent Health in the 1st quarter worth approximately $46,000. Covestor Ltd lifted its stake in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after acquiring an additional 826 shares during the period. GAMMA Investing LLC boosted its position in Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after purchasing an additional 1,556 shares during the last quarter. Quarry LP bought a new position in shares of Evolent Health in the second quarter worth about $32,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Evolent Health in the second quarter worth about $61,000.

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.