Oppenheimer Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price target lowered by Oppenheimer from $34.00 to $28.00 in a research note released on Monday,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

Several other research firms have also weighed in on EVH. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Evolent Health in a research note on Tuesday, November 12th. Truist Financial reissued a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research note on Tuesday, August 27th. KeyCorp initiated coverage on shares of Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price target for the company. Stephens cut Evolent Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $38.00 to $16.00 in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their target price on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Evolent Health currently has a consensus rating of “Buy” and a consensus price target of $28.90.

Evolent Health Trading Up 2.9 %

EVH stock opened at $11.64 on Monday. Evolent Health has a 52 week low of $11.17 and a 52 week high of $35.00. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -12.79 and a beta of 1.58. 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 business has a fifty day simple moving average of $23.63 and a 200-day simple moving average of $23.91.

Institutional Investors Weigh In On Evolent Health

A number of hedge funds have recently bought and sold shares of EVH. Wellington Management Group LLP boosted its stake in shares of Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after buying an additional 1,426,747 shares during the last quarter. Vanguard Group Inc. raised its holdings in Evolent Health by 0.9% in the first quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock valued at $357,905,000 after acquiring an additional 93,739 shares in the last quarter. RA Capital Management L.P. boosted its stake in Evolent Health by 125.0% during the 1st quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock valued at $188,088,000 after acquiring an additional 3,187,000 shares during the last quarter. William Blair Investment Management LLC grew its holdings in Evolent Health by 35.2% during the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after acquiring an additional 1,308,376 shares in the last quarter. Finally, Engaged Capital LLC increased its position in shares of Evolent Health by 26.1% in the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after purchasing an additional 850,000 shares during the last quarter.

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.