JPMorgan Chase & Co. Cuts Evolent Health (NYSE:EVH) Price Target to $15.00

Evolent Health (NYSE:EVH) had its price objective decreased by JPMorgan Chase & Co. from $45.00 to $15.00 in a report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

Several other equities research analysts have also weighed in on EVH. JMP Securities cut their target price on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. KeyCorp began coverage on Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 target price on the stock. Stephens downgraded shares of Evolent Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $38.00 to $16.00 in a research report on Friday, November 8th. Barclays reduced 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, November 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price objective on shares of Evolent Health in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Evolent Health presently has a consensus rating of “Buy” and a consensus target price of $25.90.

Evolent Health Stock Performance

NYSE:EVH opened at $11.25 on Friday. Evolent Health has a 12 month low of $11.17 and a 12 month high of $35.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $1.31 billion, a PE ratio of -12.36 and a beta of 1.58. The business’s fifty day moving average price is $23.26 and its 200 day moving average price is $23.74.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd boosted its stake in shares of 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 acquiring an additional 826 shares in the last quarter. GAMMA Investing LLC increased its holdings in Evolent Health by 5,365.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after acquiring an additional 1,556 shares in the last quarter. Quarry LP acquired a new position in Evolent Health during the second quarter worth about $32,000. Canada Pension Plan Investment Board purchased a new stake in shares of Evolent Health in the second quarter valued at about $61,000. Finally, Quest Partners LLC acquired a new stake in shares of Evolent Health in the second quarter valued at approximately $87,000.

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.