Evolent Health (NYSE:EVH) Reaches New 1-Year Low – Time to Sell?

Evolent Health, Inc. (NYSE:EVH) shares hit a new 52-week low on Wednesday . The stock traded as low as $8.35 and last traded at $8.49, with a volume of 467309 shares trading hands. The stock had previously closed at $8.55.

Wall Street Analysts Forecast Growth

Several analysts have commented on EVH shares. JMP Securities reissued a “market outperform” rating and issued a $12.00 target price on shares of Evolent Health in a research report on Friday, February 14th. Canaccord Genuity Group lowered their price target on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Evolent Health in a research report on Friday, February 21st. Royal Bank of Canada decreased their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. Finally, UBS Group lowered 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. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $17.79.

Evolent Health Trading Down 3.5 %

The company has a 50-day simple moving average of $10.41 and a 200-day simple moving average of $17.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $1.05 billion, a P/E ratio of -10.96 and a beta of 1.45.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.35). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The company had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. On average, sell-side analysts forecast that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Brendan B. Springstubb purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $8.75 per share, for a total transaction of $43,750.00. Following the transaction, the director now directly owns 11,842 shares of the company’s stock, valued at approximately $103,617.50. The trade was a 73.08 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Evolent Health

Several hedge funds have recently bought and sold shares of the company. Covestor Ltd lifted its holdings in shares of Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 826 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Evolent Health in the fourth quarter worth $26,000. R Squared Ltd acquired a new position in shares of Evolent Health during the 4th quarter worth about $31,000. AlphaQuest LLC boosted its position in Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock valued at $34,000 after purchasing an additional 3,031 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Evolent Health by 90.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after purchasing an additional 2,358 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.