Evolent Health (NYSE:EVH) Hits New 1-Year Low Following Analyst Downgrade

Evolent Health, Inc. (NYSE:EVH)’s stock price hit a new 52-week low during mid-day trading on Thursday after Citigroup lowered their price target on the stock from $33.00 to $21.00. Citigroup currently has a buy rating on the stock. Evolent Health traded as low as $12.33 and last traded at $12.44, with a volume of 1120664 shares changing hands. The stock had previously closed at $12.75.

A number of other analysts have also recently commented on the company. Oppenheimer reduced their price target on Evolent Health from $45.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Stephens cut Evolent Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their price target on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. JMP Securities reduced their price target on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Finally, Truist Financial restated a “buy” rating and issued a $33.00 price target on shares of Evolent Health in a research report on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $29.50.

Insider Activity

In other news, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the sale, the chief executive officer now directly owns 411,924 shares of the company’s stock, valued at $12,357,720. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, President Daniel Joseph Mccarthy sold 23,693 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total value of $731,876.77. Following the sale, the president now directly owns 198,809 shares in the company, valued at approximately $6,141,210.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Seth Blackley sold 187,904 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the sale, the chief executive officer now owns 411,924 shares in the company, valued at approximately $12,357,720. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 307,291 shares of company stock valued at $9,290,385 in the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in Evolent Health during the 1st quarter valued at about $528,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Evolent Health in the first quarter worth about $459,000. Headlands Technologies LLC purchased a new stake in shares of Evolent Health in the first quarter worth about $46,000. ProShare Advisors LLC boosted its stake in shares of Evolent Health by 10.8% in the first quarter. ProShare Advisors LLC now owns 20,198 shares of the technology company’s stock worth $662,000 after buying an additional 1,962 shares during the last quarter. Finally, Scout Investments Inc. purchased a new stake in shares of Evolent Health in the first quarter worth about $5,760,000.

Evolent Health Stock Down 3.1 %

The company has a quick ratio of 1.08, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market cap of $1.44 billion, a PE ratio of -14.00 and a beta of 1.58. The business has a 50 day moving average price of $25.82 and a 200 day moving average price of $24.53.

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.