UBS Group Cuts Evolent Health (NYSE:EVH) Price Target to $14.00

Evolent Health (NYSE:EVH) had its target price lowered by UBS Group from $27.00 to $14.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research firms have also recently weighed in on EVH. JMP Securities lowered their price objective on Evolent Health from $27.00 to $18.00 and set a “market outperform” rating on the stock in a research report on Friday, January 10th. Stephens lowered shares of Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. Needham & Company LLC began coverage on shares of Evolent Health in a report on Friday, January 10th. They issued a “buy” rating and a $15.00 price objective for the company. Truist Financial decreased their target price on shares of Evolent Health from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Barclays dropped 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. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $21.92.

Evolent Health Price Performance

Evolent Health stock opened at $10.02 on Thursday. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -11.01 and a beta of 1.45. The stock’s 50 day moving average is $11.79 and its 200-day moving average is $20.72. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a 12 month low of $9.88 and a 12 month high of $35.00.

Institutional Investors Weigh In On Evolent Health

A number of large investors have recently modified their holdings of EVH. Moody National Bank Trust Division grew its position in Evolent Health by 4.4% in the fourth quarter. Moody National Bank Trust Division now owns 176,653 shares of the technology company’s stock valued at $1,987,000 after acquiring an additional 7,450 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of Evolent Health by 53.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock valued at $3,939,000 after purchasing an additional 121,369 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Evolent Health by 90.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock valued at $9,036,000 after purchasing an additional 380,790 shares during the last quarter. Nordea Investment Management AB increased its position in Evolent Health by 7.0% during the 4th quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock worth $1,469,000 after purchasing an additional 8,552 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Evolent Health by 268.0% in the 3rd quarter. Principal Financial Group Inc. now owns 57,382 shares of the technology company’s stock valued at $1,623,000 after purchasing an additional 41,788 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.