Evolent Health (NYSE:EVH) Reaches New 12-Month Low – What’s Next?

Evolent Health, Inc. (NYSE:EVH)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $10.76 and last traded at $10.78, with a volume of 193535 shares trading hands. The stock had previously closed at $11.10.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barclays reduced their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Truist Financial restated a “buy” rating and issued a $33.00 price objective on shares of Evolent Health in a research report on Tuesday, August 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price target on shares of Evolent Health in a report on Tuesday, November 12th. Citigroup reduced their target price on Evolent Health from $33.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, KeyCorp started coverage on Evolent Health in a research note on Friday, October 11th. They set an “overweight” rating and a $35.00 price target for the company. One research 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. According to data from MarketBeat, Evolent Health currently has an average rating of “Buy” and an average price target of $26.18.

Evolent Health Stock Up 1.8 %

The company has a 50-day moving average of $17.28 and a two-hundred day moving average of $22.30. 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 company has a market capitalization of $1.27 billion, a P/E ratio of -11.98 and a beta of 1.45.

Institutional Investors Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently bought and sold shares of EVH. Wellington Management Group LLP increased its holdings in shares of Evolent Health by 12.8% during the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after acquiring an additional 1,426,747 shares in the last quarter. William Blair Investment Management LLC lifted its position in Evolent Health by 35.2% in the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after acquiring an additional 1,308,376 shares in the last quarter. Engaged Capital LLC boosted its stake in Evolent Health by 26.1% during the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after purchasing an additional 850,000 shares during the last quarter. Eventide Asset Management LLC raised its stake in shares of Evolent Health by 1.7% in the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock worth $107,580,000 after purchasing an additional 64,985 shares during the last quarter. Finally, State Street Corp boosted its holdings in Evolent Health by 1.0% in the third quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock worth $77,074,000 after purchasing an additional 25,967 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.