JPMorgan Chase & Co. Cuts Evolent Health (NYSE:EVH) Price Target to $12.00

Evolent Health (NYSE:EVH) had its price target cut by JPMorgan Chase & Co. from $13.00 to $12.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other research analysts also recently issued research reports about the company. JMP Securities reaffirmed a “market outperform” rating and issued a $12.00 price target on shares of Evolent Health in a research note on Friday, February 14th. Piper Sandler restated an “overweight” rating and issued a $16.00 target price (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. Citigroup reduced their price target on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Barclays lowered their price objective 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. Finally, UBS Group reduced their target price on Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $17.71.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $9.49 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -11.57 and a beta of 1.49. Evolent Health has a twelve month low of $8.35 and a twelve month high of $34.07. The company has a 50-day simple moving average of $10.26 and a two-hundred day simple moving average of $17.23.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $650.92 million. Analysts forecast that Evolent Health will post 0.08 EPS for the current year.

Insider Transactions at Evolent Health

In other Evolent Health news, CEO Seth Blackley bought 55,225 shares of Evolent Health stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $9.01 per share, with a total value of $497,577.25. Following the acquisition, the chief executive officer now directly owns 762,217 shares of the company’s stock, valued at $6,867,575.17. The trade was a 7.81 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diane Holder purchased 2,735 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $9.33 per share, with a total value of $25,517.55. Following the purchase, the director now directly owns 70,584 shares of the company’s stock, valued at approximately $658,548.72. The trade was a 4.03 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 74,000 shares of company stock worth $666,315. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Hedge funds have recently made changes to their positions in the stock. 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 buying an additional 826 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Evolent Health during the fourth quarter valued at $26,000. R Squared Ltd acquired a new stake in Evolent Health during the 4th quarter worth about $31,000. AlphaQuest LLC raised its position in shares of Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after acquiring an additional 3,031 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Evolent Health by 90.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after purchasing an additional 2,358 shares during the period.

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.