JPMorgan Chase & Co. Cuts Evolent Health (NYSE:EVH) Price Target to $15.00

Evolent Health (NYSE:EVH) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $45.00 to $15.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 33.33% from the stock’s previous close.

Several other brokerages have also recently weighed in on EVH. Barclays lowered their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Oppenheimer decreased their target price on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, November 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Evolent Health in a research report on Tuesday, November 12th. Stephens lowered Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. Finally, JMP Securities cut their target price on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $25.90.

Evolent Health Stock Down 2.9 %

EVH stock opened at $11.25 on Friday. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -12.36 and a beta of 1.58. The firm has a 50-day moving average of $23.26 and a two-hundred day moving average of $23.77. Evolent Health has a 12 month low of $11.17 and a 12 month high of $35.00. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58.

Institutional Investors Weigh In On Evolent Health

Hedge funds have recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Evolent Health during the second quarter worth approximately $32,000. Covestor Ltd increased its position in shares of Evolent Health by 138.1% in 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 during the last quarter. GAMMA Investing LLC increased 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. Canada Pension Plan Investment Board purchased a new stake in shares of Evolent Health during the 2nd quarter worth $61,000. Finally, Quest Partners LLC acquired a new position in shares of Evolent Health during the second quarter worth $87,000.

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.