Oppenheimer Cuts Evolent Health (NYSE:EVH) Price Target to $28.00

Evolent Health (NYSE:EVH) had its price objective cut by Oppenheimer from $34.00 to $28.00 in a report issued on Monday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other research firms have also commented on EVH. JPMorgan Chase & Co. lifted their price target on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Citigroup decreased their target price on Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Barclays dropped their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. JMP Securities reduced their price objective 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 reaffirmed a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $28.90.

Evolent Health Stock Performance

Shares of EVH opened at $11.64 on Monday. The stock has a market capitalization of $1.36 billion, a PE ratio of -12.79 and a beta of 1.58. The business’s fifty day moving average price is $23.63 and its 200 day moving average price is $23.91. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. Evolent Health has a 12-month low of $11.17 and a 12-month high of $35.00.

Hedge Funds Weigh In On Evolent Health

Large investors have recently bought and sold shares of the stock. Brophy Wealth Management LLC bought a new position in shares of Evolent Health in the third quarter valued at approximately $405,000. Barclays PLC lifted its position in Evolent Health by 181.3% in the third quarter. Barclays PLC now owns 273,776 shares of the technology company’s stock worth $7,742,000 after purchasing an additional 176,445 shares during the period. Wellington Management Group LLP boosted its stake in Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after purchasing an additional 1,426,747 shares in the last quarter. State Street Corp increased its position in shares of Evolent Health by 1.0% during the 3rd quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after purchasing an additional 25,967 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of Evolent Health by 1,948.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after purchasing an additional 1,422,385 shares during the period.

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.