JMP Securities Cuts Evolent Health (NYSE:EVH) Price Target to $31.00

Evolent Health (NYSE:EVH) had its price objective cut by JMP Securities from $34.00 to $31.00 in a report released on Friday morning, Benzinga reports. They currently have a market outperform rating on the technology company’s stock.

Several other equities analysts have also recently commented on EVH. Canaccord Genuity Group reduced their target price on Evolent Health from $44.00 to $41.00 and set a buy rating for the company in a research note on Friday, May 10th. Truist Financial raised shares of Evolent Health from a hold rating to a buy rating and raised their price objective for the stock from $28.00 to $33.00 in a report on Friday. Stephens restated an overweight rating and issued a $42.00 target price on shares of Evolent Health in a research note on Tuesday, July 30th. Finally, Citigroup began coverage on Evolent Health in a report on Monday, April 22nd. They issued a buy rating and a $40.00 price objective for the company. One investment analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Evolent Health has an average rating of Moderate Buy and a consensus price target of $41.64.

Evolent Health Price Performance

Shares of EVH stock traded down $0.28 during trading hours on Friday, hitting $26.12. The company’s stock had a trading volume of 898,661 shares, compared to its average volume of 1,448,950. Evolent Health has a twelve month low of $17.98 and a twelve month high of $35.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $21.39 and a 200-day moving average of $26.67. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -21.12 and a beta of 1.54.

Evolent Health (NYSE:EVH) last released its quarterly earnings data 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 6.90% and a negative net margin of 5.07%. The company had revenue of $647.10 million for the quarter, compared to the consensus estimate of $636.46 million. During the same period last year, the business posted $0.06 EPS. The company’s quarterly revenue was up 37.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Evolent Health will post 0.9 EPS for the current year.

Institutional Investors Weigh In On Evolent Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in 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 purchasing an additional 4,073,959 shares during the period. RA Capital Management L.P. lifted its stake in shares of Evolent Health by 125.0% in 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 buying an additional 3,187,000 shares during the last quarter. Norges Bank bought a new stake in shares of Evolent Health during the 4th quarter worth $43,759,000. William Blair Investment Management LLC boosted its holdings in shares of Evolent Health by 35.2% during the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after buying an additional 1,308,376 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in Evolent Health by 81.3% in the 4th 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.

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.