Evolent Health (NYSE:EVH) Stock Price Down 5.4% Following Analyst Downgrade

Evolent Health, Inc. (NYSE:EVH) fell 5.4% on Tuesday after BTIG Research lowered their price target on the stock from $36.00 to $29.00. BTIG Research currently has a buy rating on the stock. Evolent Health traded as low as $12.02 and last traded at $12.02. 487,709 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 1,796,123 shares. The stock had previously closed at $12.71.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price objective on shares of Evolent Health in a report on Tuesday, November 12th. JMP Securities cut their price target on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. Citigroup reduced their target price on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Barclays decreased their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Stephens lowered shares of Evolent Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $38.00 to $16.00 in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Evolent Health currently has a consensus rating of “Buy” and an average price target of $26.18.

Institutional Investors Weigh In On Evolent Health

A number of institutional investors have recently made changes to their positions in EVH. Wellington Management Group LLP increased its position in 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 worth $356,200,000 after acquiring an additional 1,426,747 shares during the period. Point72 Asset Management L.P. raised its position in shares of Evolent Health by 1,948.5% in the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after buying an additional 1,422,385 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of Evolent Health by 35.2% in the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after buying an additional 1,308,376 shares during the period. First Light Asset Management LLC increased its stake in Evolent Health by 401.5% during the 2nd quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock worth $27,634,000 after acquiring an additional 1,157,124 shares during the period. Finally, Bellevue Group AG raised its holdings in Evolent Health by 59.9% in the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock valued at $75,509,000 after acquiring an additional 1,000,215 shares in the last quarter.

Evolent Health Trading Down 5.4 %

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.40 billion, a P/E ratio of -13.69 and a beta of 1.45. The business has a 50-day moving average price of $21.12 and a two-hundred day moving average price of $23.26.

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.