Evolent Health (NYSE:EVH) Trading Down 3.8% Following Analyst Downgrade

Evolent Health, Inc. (NYSE:EVH) traded down 3.8% during mid-day trading on Wednesday 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 $13.84 and last traded at $13.89. 163,834 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,739,068 shares. The stock had previously closed at $14.44.

A number of other research firms also recently commented on EVH. Oppenheimer cut their price objective on shares of Evolent Health from $45.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, November 8th. KeyCorp assumed coverage on Evolent Health in a research note on Friday, October 11th. They set an “overweight” rating and a $35.00 target price on the stock. Truist Financial reissued a “buy” rating and issued a $33.00 price target on shares of Evolent Health in a research report on Tuesday, August 27th. Barclays decreased their price objective on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Stephens downgraded shares of Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $38.00 to $16.00 in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $29.50.

Insider Activity at Evolent Health

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the sale, the chief executive officer now owns 411,924 shares in the company, valued at approximately $12,357,720. This represents a 31.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the completion of the transaction, the general counsel now directly owns 167,027 shares of the company’s stock, valued at $5,211,242.40. The trade was a 20.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 307,291 shares of company stock worth $9,290,385 in the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Evolent Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in Evolent Health in the first quarter valued at about $46,000. Covestor Ltd lifted its holdings in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after buying an additional 826 shares during the last quarter. GAMMA Investing LLC lifted its stake in Evolent Health by 5,365.5% during the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after purchasing an additional 1,556 shares during the last quarter. Quarry LP bought a new position in shares of Evolent Health in the 2nd quarter worth about $32,000. Finally, Canada Pension Plan Investment Board acquired a new position in Evolent Health in the second quarter valued at approximately $61,000.

Evolent Health Stock Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.08 and a current ratio of 1.04. The stock has a 50 day moving average of $25.47 and a 200 day moving average of $24.45. The stock has a market capitalization of $1.47 billion, a P/E ratio of -13.92 and a beta of 1.58.

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.