Evolent Health (NYSE:EVH) Stock Price Down 5.5%

Evolent Health, Inc. (NYSE:EVH) shares were down 5.5% on Monday . The stock traded as low as $18.03 and last traded at $18.07. Approximately 709,165 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 1,184,358 shares. The stock had previously closed at $19.12.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EVH shares. Citigroup started coverage on Evolent Health in a research report on Monday, April 22nd. They issued a “buy” rating and a $40.00 price objective for the company. JPMorgan Chase & Co. cut their target price on Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. JMP Securities cut their target price on Evolent Health from $38.00 to $34.00 and set a “market outperform” rating for the company in a research note on Friday, May 10th. Finally, Canaccord Genuity Group cut their target price on Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Evolent Health Trading Up 2.5 %

The firm has a fifty day moving average of $23.54 and a 200-day moving average of $28.78. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, May 9th. The technology company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $639.65 million for the quarter, compared to analyst estimates of $601.60 million. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. As a group, equities analysts predict that Evolent Health, Inc. will post 0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Hedge funds have recently modified their holdings of the business. ICA Group Wealth Management LLC acquired a new stake in Evolent Health in the 4th quarter valued at approximately $33,000. Headlands Technologies LLC acquired a new stake in Evolent Health in the 1st quarter valued at approximately $46,000. Signaturefd LLC increased its position in shares of Evolent Health by 1,470.7% during the 4th quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock worth $48,000 after purchasing an additional 1,353 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Evolent Health during the 4th quarter worth approximately $69,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Evolent Health during the 1st quarter worth approximately $88,000.

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.