Evolent Health (NYSE:EVH) Stock Price Down 5.5%

Evolent Health, Inc. (NYSE:EVH)’s stock price was down 5.5% on Monday . The stock traded as low as $18.03 and last traded at $18.07. Approximately 709,165 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 1,184,358 shares. The stock had previously closed at $19.12.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on EVH shares. Citigroup started coverage on shares of Evolent Health in a report on Monday, April 22nd. They issued a “buy” rating and a $40.00 target price on the stock. Canaccord Genuity Group reduced their price objective on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, May 10th. JPMorgan Chase & Co. reduced their price objective on shares of Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Finally, JMP Securities reduced their price objective on shares of Evolent Health from $38.00 to $34.00 and set a “market outperform” rating for the company in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Evolent Health Stock Up 2.5 %

The business’s 50-day moving average price is $23.54 and its two-hundred day moving average price is $28.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, May 9th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Evolent Health had a negative net margin of 5.07% and a positive return on equity of 6.90%. The firm had revenue of $639.65 million during the quarter, compared to the consensus estimate of $601.60 million. Research analysts anticipate that Evolent Health, Inc. will post 0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Several institutional investors have recently bought and sold shares of the business. NBC Securities Inc. grew its stake in Evolent Health by 16.6% during the first quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after buying an additional 350 shares during the period. HMS Capital Management LLC boosted its stake in shares of Evolent Health by 7.8% in the first quarter. HMS Capital Management LLC now owns 7,419 shares of the technology company’s stock valued at $243,000 after purchasing an additional 538 shares during the period. Ascent Group LLC boosted its stake in shares of Evolent Health by 2.8% in the first quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock valued at $667,000 after purchasing an additional 550 shares during the period. American International Group Inc. boosted its stake in shares of Evolent Health by 1.2% in the first quarter. American International Group Inc. now owns 55,402 shares of the technology company’s stock valued at $1,817,000 after purchasing an additional 640 shares during the period. Finally, Janney Capital Management LLC boosted its stake in shares of Evolent Health by 7.6% in the first quarter. Janney Capital Management LLC now owns 9,543 shares of the technology company’s stock valued at $313,000 after purchasing an additional 671 shares during the period.

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.