JMP Securities Lowers Evolent Health (NYSE:EVH) Price Target to $18.00

Evolent Health (NYSE:EVH) had its price target lowered by JMP Securities from $27.00 to $18.00 in a report published on Friday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC began coverage on shares of Evolent Health in a report on Friday. They set a “buy” rating and a $15.00 price target for the company. Barclays decreased their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Evolent Health in a research report on Tuesday, November 12th. BTIG Research reduced their price objective on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Finally, Stephens lowered shares of Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $23.92.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $12.57 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $13.13 and a 200-day simple moving average of $21.09. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -13.81 and a beta of 1.45. Evolent Health has a 1-year low of $10.53 and a 1-year high of $35.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in shares of Evolent Health by 3.2% in the 2nd quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock valued at $298,000 after purchasing an additional 480 shares during the period. Arizona State Retirement System raised its stake in Evolent Health by 2.3% during the second quarter. Arizona State Retirement System now owns 29,083 shares of the technology company’s stock worth $556,000 after acquiring an additional 649 shares in the last quarter. Covestor Ltd raised its stake in Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after acquiring an additional 826 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Evolent Health by 5,365.5% during the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after acquiring an additional 1,556 shares during the period. Finally, Quarry LP bought a new stake in shares of Evolent Health in the 2nd quarter worth about $32,000.

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.