JPMorgan Chase & Co. Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $15.00 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 27.45% from the company’s previous close.

Several other brokerages also recently weighed in on EVH. Needham & Company LLC initiated coverage on shares of Evolent Health in a research note on Friday, January 10th. They issued a “buy” rating and a $15.00 target price for the company. Truist Financial lowered their price objective on Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Barclays decreased their price target 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. UBS Group cut their price target on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, JMP Securities decreased their price objective on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating for the company in a report on Friday, January 10th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Evolent Health currently has an average rating of “Buy” and an average price target of $18.38.

Evolent Health Stock Up 2.2 %

NYSE EVH traded up $0.22 during trading hours on Tuesday, hitting $10.20. The company had a trading volume of 119,540 shares, compared to its average volume of 2,309,514. The firm’s 50 day moving average is $11.40 and its 200 day moving average is $20.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. Evolent Health has a fifty-two week low of $9.74 and a fifty-two week high of $35.00. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -11.21 and a beta of 1.45.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, November 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.38). The company had revenue of $621.40 million during the quarter, compared to analyst estimates of $625.58 million. Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. During the same quarter last year, the business posted $0.19 EPS. Sell-side analysts anticipate that Evolent Health will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EVH. Royce & Associates LP acquired a new position in shares of Evolent Health during the third quarter worth approximately $7,070,000. Foundry Partners LLC acquired a new position in Evolent Health during the 3rd quarter worth $10,042,000. Salem Investment Counselors Inc. grew its stake in shares of Evolent Health by 53.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock worth $3,939,000 after purchasing an additional 121,369 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Evolent Health by 140.0% during the third quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock valued at $11,946,000 after purchasing an additional 246,400 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Evolent Health by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock valued at $1,469,000 after buying an additional 8,552 shares in 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.