Truist Financial Lowers Evolent Health (NYSE:EVH) Price Target to $20.00

Evolent Health (NYSE:EVH) had its price target lowered by Truist Financial from $24.00 to $20.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other brokerages have also issued reports on EVH. BTIG Research cut their price objective on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Stephens lowered Evolent Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $38.00 to $16.00 in a report on Friday, November 8th. Oppenheimer cut their price objective on Evolent Health from $34.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, November 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price objective on shares of Evolent Health in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. cut their price objective on Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $22.58.

Evolent Health Price Performance

Shares of NYSE:EVH opened at $10.01 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a 1 year low of $9.93 and a 1 year high of $35.00. The business has a fifty day simple moving average of $12.44 and a 200 day simple moving average of $20.92. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -11.00 and a beta of 1.45.

Hedge Funds Weigh In On Evolent Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its stake in shares of Evolent Health by 2.3% in 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 during the last quarter. Covestor Ltd grew its stake in shares of Evolent Health by 138.1% in 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 during the last quarter. GAMMA Investing LLC grew its stake in shares of Evolent Health by 5,365.5% in the third 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 last quarter. Quarry LP acquired a new stake in shares of Evolent Health in the second quarter worth $32,000. Finally, Creative Planning grew its stake in shares of Evolent Health by 12.2% in the second quarter. Creative Planning now owns 18,091 shares of the technology company’s stock worth $346,000 after acquiring an additional 1,973 shares during 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.