Evolent Health (NYSE:EVH) Price Target Cut to $20.00 by Analysts at Truist Financial

Evolent Health (NYSE:EVH) had its price target reduced by analysts at Truist Financial from $24.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial’s target price would suggest a potential upside of 61.03% from the company’s current price.

A number of other equities research analysts have also issued reports on EVH. BTIG Research cut their price target on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price target on shares of Evolent Health in a research note on Tuesday, November 12th. Barclays cut their price objective 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 dropped their price target on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. cut their price target on shares of Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $22.83.

Evolent Health Price Performance

NYSE EVH traded down $0.12 on Monday, reaching $12.42. The company’s stock had a trading volume of 46,416 shares, compared to its average volume of 1,359,103. Evolent Health has a twelve month low of $10.53 and a twelve month high of $35.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50 day moving average is $12.91 and its two-hundred day moving average is $21.03. The stock has a market cap of $1.45 billion, a PE ratio of -13.65 and a beta of 1.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in Evolent Health in the 2nd quarter worth $32,000. Covestor Ltd raised its position in Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after acquiring an additional 826 shares in the last quarter. GAMMA Investing LLC raised its position in Evolent Health by 5,365.5% during the third 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 in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Evolent Health in the second quarter valued at $61,000. Finally, Quest Partners LLC acquired a new position in shares of Evolent Health in the second quarter valued at $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.