Evolent Health (NYSE:EVH) Reaches New 52-Week Low – Here’s Why

Evolent Health, Inc. (NYSE:EVH) shares reached a new 52-week low on Wednesday . The company traded as low as $8.35 and last traded at $8.49, with a volume of 467309 shares changing hands. The stock had previously closed at $8.55.

Analysts Set New Price Targets

Several research firms have commented on EVH. Stephens decreased their price objective on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Evolent Health in a research note on Friday, February 21st. Royal Bank of Canada dropped their price target on Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, January 14th. Oppenheimer lowered their price objective on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Evolent Health currently has an average rating of “Buy” and a consensus target price of $17.79.

Evolent Health Stock Performance

The stock has a market capitalization of $1.05 billion, a P/E ratio of -10.96 and a beta of 1.45. The company has a 50-day moving average price of $10.41 and a two-hundred day moving average price of $17.88. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The business had revenue of $646.54 million for the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. On average, equities analysts forecast that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Brendan B. Springstubb acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the purchase, the director now owns 11,842 shares in the company, valued at approximately $103,617.50. This represents a 73.08 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Evolent Health

Hedge funds have recently made changes to their positions in the business. Pilgrim Partners Asia Pte Ltd bought a new stake in Evolent Health in the fourth quarter worth about $26,000. R Squared Ltd bought a new position in Evolent Health in the 4th quarter worth approximately $31,000. AlphaQuest LLC raised its stake in shares of Evolent Health by 21,650.0% during the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock valued at $34,000 after purchasing an additional 3,031 shares during the period. Covestor Ltd boosted its holdings in Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 826 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after buying an additional 2,358 shares in the last quarter.

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.