Evolent Health (NYSE:EVH) Price Target Lowered to $21.00 at Citigroup

Evolent Health (NYSE:EVH) had its target price lowered by Citigroup from $33.00 to $21.00 in a report released on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

EVH has been the subject of a number of other reports. Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $38.00 to $16.00 in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Evolent Health in a report on Tuesday. KeyCorp started coverage on shares of Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective for the company. Truist Financial restated a “buy” rating and set a $33.00 price objective on shares of Evolent Health in a research report on Tuesday, August 27th. Finally, JMP Securities decreased their target price on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Evolent Health has an average rating of “Buy” and a consensus target price of $29.50.

Evolent Health Stock Performance

NYSE EVH opened at $12.74 on Wednesday. The firm has a 50-day moving average price of $25.82 and a two-hundred day moving average price of $24.53. Evolent Health has a 12-month low of $12.37 and a 12-month high of $35.00. The company has a market capitalization of $1.48 billion, a P/E ratio of -14.00 and a beta of 1.58. The company has a quick ratio of 1.08, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Insiders Place Their Bets

In other news, COO Emily Ann Rafferty sold 8,861 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $265,830.00. Following the completion of the transaction, the chief operating officer now owns 63,408 shares of the company’s stock, valued at approximately $1,902,240. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Daniel Joseph Mccarthy sold 23,693 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total value of $731,876.77. Following the transaction, the president now directly owns 198,809 shares of the company’s stock, valued at $6,141,210.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emily Ann Rafferty sold 8,861 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $265,830.00. Following the completion of the sale, the chief operating officer now owns 63,408 shares in the company, valued at $1,902,240. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 307,291 shares of company stock valued at $9,290,385 in the last ninety days. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP acquired a new stake in shares of Evolent Health during the second quarter worth $32,000. Covestor Ltd boosted its position in Evolent Health by 138.1% during the third 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 last quarter. GAMMA Investing LLC grew its holdings in Evolent Health by 5,365.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after acquiring an additional 1,556 shares during the period. Headlands Technologies LLC bought a new position in shares of Evolent Health in the 1st quarter worth about $46,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Evolent Health in the 2nd quarter valued at 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.