Citigroup Lowers Evolent Health (NYSE:EVH) Price Target to $21.00

Evolent Health (NYSE:EVH) had its price target reduced by Citigroup from $33.00 to $21.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other analysts also recently issued research reports about the stock. KeyCorp initiated coverage on shares of Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Evolent Health in a research note on Tuesday, November 12th. Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $38.00 to $16.00 in a report on Friday, November 8th. JMP Securities dropped their price target on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Evolent Health currently has an average rating of “Buy” and a consensus price target of $29.50.

Evolent Health Price Performance

Shares of NYSE EVH opened at $12.38 on Wednesday. The stock’s 50-day simple moving average is $25.11 and its 200-day simple moving average is $24.32. The firm has a market capitalization of $1.44 billion, a PE ratio of -13.60 and a beta of 1.58. Evolent Health has a fifty-two week low of $12.18 and a fifty-two week high of $35.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.08 and a current ratio of 1.04.

Insiders Place Their Bets

In other Evolent Health news, President Daniel Joseph Mccarthy sold 23,693 shares of the firm’s 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 transaction, the president now directly owns 198,809 shares in the company, valued at approximately $6,141,210.01. This trade represents a 10.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Seth Blackley sold 187,904 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the sale, the chief executive officer now owns 411,924 shares in the company, valued at approximately $12,357,720. This trade represents a 31.33 % decrease in their position. 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. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Evolent Health

Hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new stake in shares of Evolent Health during the 1st quarter worth about $528,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Evolent Health in the first quarter worth $459,000. Headlands Technologies LLC purchased a new position in shares of Evolent Health in the 1st quarter valued at $46,000. ProShare Advisors LLC lifted its holdings in shares of Evolent Health by 10.8% during the 1st quarter. ProShare Advisors LLC now owns 20,198 shares of the technology company’s stock valued at $662,000 after acquiring an additional 1,962 shares in the last quarter. Finally, Scout Investments Inc. purchased a new stake in Evolent Health during the 1st quarter worth $5,760,000.

Evolent Health Company Profile

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.