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

Evolent Health (NYSE:EVH) had its price objective lowered by investment analysts at BTIG Research from $36.00 to $29.00 in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the technology company’s stock. BTIG Research’s price target would indicate a potential upside of 127.99% from the stock’s previous close.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. dropped their target price on Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Barclays cut their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Stephens downgraded shares of Evolent Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Evolent Health in a report on Tuesday, November 12th. Finally, Oppenheimer decreased their price objective on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, November 18th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $26.18.

Evolent Health Price Performance

EVH opened at $12.72 on Tuesday. Evolent Health has a twelve month low of $11.17 and a twelve 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. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -13.98 and a beta of 1.45. The company has a fifty day simple moving average of $21.12 and a 200 day simple moving average of $23.26.

Hedge Funds Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently bought and sold shares of EVH. Royce & Associates LP acquired a new stake in shares of Evolent Health during the 3rd quarter worth approximately $7,070,000. Foundry Partners LLC acquired a new stake in Evolent Health in the third quarter worth $10,042,000. Harbor Capital Advisors Inc. lifted its stake in Evolent Health by 140.0% in the third quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock valued at $11,946,000 after buying an additional 246,400 shares during the last quarter. Valeo Financial Advisors LLC acquired a new position in shares of Evolent Health during the second quarter valued at $2,705,000. Finally, Engaged Capital LLC grew its position in shares of Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after acquiring an additional 850,000 shares during the last quarter.

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.