Evolent Health (NYSE:EVH) Shares Down 3.6%

Evolent Health, Inc. (NYSE:EVH) was down 3.6% during trading on Monday . The stock traded as low as $19.25 and last traded at $19.29. Approximately 295,428 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,211,433 shares. The stock had previously closed at $20.00.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Canaccord Genuity Group cut their price target on Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a report on Friday, May 10th. Citigroup assumed coverage on shares of Evolent Health in a research note on Monday, April 22nd. They set a “buy” rating and a $40.00 target price for the company. JMP Securities dropped their price objective on shares of Evolent Health from $38.00 to $34.00 and set a “market outperform” rating on the stock in a report on Friday, May 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Evolent Health currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Evolent Health Stock Performance

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50 day moving average is $22.69 and its two-hundred day moving average is $28.38.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The firm had revenue of $639.65 million for the quarter, compared to analysts’ expectations of $601.60 million. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. As a group, research analysts anticipate that Evolent Health, Inc. will post 0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Several institutional investors have recently added to or reduced their stakes in EVH. Wellington Management Group LLP increased its holdings in shares of Evolent Health by 96.1% during the fourth quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock worth $274,584,000 after buying an additional 4,073,959 shares in the last quarter. RA Capital Management L.P. grew its holdings in shares of Evolent Health by 125.0% during the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock worth $188,088,000 after purchasing an additional 3,187,000 shares during the last quarter. Norges Bank acquired a new stake in shares of Evolent Health in the fourth quarter valued at $43,759,000. Point72 Asset Management L.P. raised its holdings in shares of Evolent Health by 81.3% in the fourth quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock valued at $88,355,000 after buying an additional 1,199,400 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC raised its holdings in shares of Evolent Health by 126.5% in the first quarter. Zevenbergen Capital Investments LLC now owns 565,625 shares of the technology company’s stock valued at $18,547,000 after buying an additional 315,875 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.