Evolent Health (NYSE:EVH) Cut to “Equal Weight” at Stephens

Evolent Health (NYSE:EVH) was downgraded by stock analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research note issued on Friday,Briefing.com Automated Import reports. They currently have a $16.00 target price on the technology company’s stock, down from their prior target price of $38.00. Stephens’ price target indicates a potential downside of 34.93% from the company’s previous close.

EVH has been the topic of a number of other reports. Citigroup decreased their price target on Evolent Health from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Truist Financial restated a “buy” rating and set a $33.00 price target on shares of Evolent Health in a research note on Tuesday, August 27th. KeyCorp began coverage on Evolent Health in a research note on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price objective on shares of Evolent Health in a research note on Tuesday, October 8th. Finally, JMP Securities dropped their target price on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $36.00.

Evolent Health Price Performance

EVH stock opened at $24.59 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50 day simple moving average of $27.21 and a 200-day simple moving average of $24.98. The firm has a market capitalization of $2.86 billion, a PE ratio of -26.16 and a beta of 1.58. Evolent Health has a 1 year low of $17.98 and a 1 year high of $35.00.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The firm had revenue of $647.10 million for the quarter, compared to analysts’ expectations of $636.46 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The firm’s quarterly revenue was up 37.9% on a year-over-year basis. Equities research analysts anticipate that Evolent Health will post 0.84 earnings per share for the current fiscal year.

Insider Transactions at Evolent Health

In other news, President Daniel Joseph Mccarthy sold 23,693 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the completion of the sale, the president now owns 198,809 shares in the company, valued at approximately $6,141,210.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Emily Ann Rafferty sold 8,861 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $265,830.00. Following the completion of the sale, the chief operating officer now directly owns 63,408 shares in the company, valued at approximately $1,902,240. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Daniel Joseph Mccarthy sold 23,693 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the sale, the president now owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 307,291 shares of company stock worth $9,290,385. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quarry LP purchased a new position in shares of Evolent Health during the 2nd quarter worth approximately $32,000. Covestor Ltd increased its stake 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 worth $40,000 after purchasing an additional 826 shares in the last quarter. GAMMA Investing LLC grew its stake in Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after acquiring an additional 1,556 shares during the period. Headlands Technologies LLC purchased a new stake in Evolent Health in the 1st quarter worth approximately $46,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Evolent Health in the 2nd quarter worth approximately $61,000.

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.