Citigroup Cuts Evolent Health (NYSE:EVH) Price Target to $33.00

Evolent Health (NYSE:EVH) had its price target reduced by Citigroup from $35.00 to $33.00 in a report released on Tuesday morning, Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the company. Truist Financial restated a “buy” rating and set a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. JPMorgan Chase & Co. upped their target price on shares of Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. JMP Securities cut their price objective on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. KeyCorp started coverage on Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 target price on shares of Evolent Health in a research note on Tuesday, October 8th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $38.60.

Evolent Health Price Performance

Shares of EVH stock opened at $23.36 on Tuesday. Evolent Health has a 12-month low of $17.98 and a 12-month high of $35.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a 50 day moving average price of $28.17 and a two-hundred day moving average price of $25.20.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The firm had revenue of $647.10 million for the quarter, compared to the consensus estimate of $636.46 million. During the same period in the prior year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 37.9% on a year-over-year basis. Research analysts predict that Evolent Health will post 0.84 earnings per share for the current year.

Insider Transactions at Evolent Health

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

Hedge Funds Weigh In On Evolent Health

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in Evolent Health during the 2nd quarter worth $32,000. GAMMA Investing LLC raised its position in shares of Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,556 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Evolent Health in the 1st quarter worth approximately $46,000. Canada Pension Plan Investment Board purchased a new stake in Evolent Health during the 2nd quarter worth approximately $61,000. Finally, Quest Partners LLC acquired a new position in shares of Evolent Health in the second quarter valued at about $87,000.

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.