Evolent Health (NYSE:EVH) Reaches New 52-Week Low on Analyst Downgrade

Evolent Health, Inc. (NYSE:EVH) reached a new 52-week low on Thursday after UBS Group lowered their price target on the stock from $27.00 to $14.00. UBS Group currently has a buy rating on the stock. Evolent Health traded as low as $9.93 and last traded at $10.01, with a volume of 6957802 shares trading hands. The stock had previously closed at $11.18.

Several other analysts have also recently weighed in on EVH. Citigroup cut their price objective on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Barclays cut their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. BTIG Research dropped their target price 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. Truist Financial cut their price objective on Evolent Health from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, KeyCorp started coverage on shares of Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price target for the company. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Evolent Health currently has an average rating of “Buy” and an average target price of $21.92.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EVH. Wellington Management Group LLP lifted its stake in shares of Evolent Health by 12.8% in the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after purchasing an additional 1,426,747 shares during the period. Point72 Asset Management L.P. grew its holdings in Evolent Health by 1,948.5% in the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after purchasing an additional 1,422,385 shares during the period. First Light Asset Management LLC lifted its position in shares of Evolent Health by 401.5% during 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 in the last quarter. Bellevue Group AG increased its stake in shares of Evolent Health by 59.9% in the third quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after buying an additional 1,000,215 shares during the last quarter. Finally, Engaged Capital LLC increased its stake 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 valued at $78,611,000 after purchasing an additional 850,000 shares during the last quarter.

Evolent Health Stock Down 1.4 %

The firm has a market cap of $1.17 billion, a P/E ratio of -11.01 and a beta of 1.45. The firm’s 50-day moving average price is $11.79 and its 200 day moving average price is $20.71. 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 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.