Evolent Health (NYSE:EVH) Given New $29.00 Price Target at BTIG Research

Evolent Health (NYSE:EVH) had its price target lowered by BTIG Research from $36.00 to $29.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. BTIG Research currently has a buy rating on the technology company’s stock.

EVH has been the topic of a number of other reports. KeyCorp started coverage on Evolent Health in a research note on Friday, October 11th. They issued an “overweight” rating and a $35.00 price target on the stock. Stephens lowered shares of Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $38.00 to $16.00 in a report on Friday, November 8th. Barclays dropped their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their price objective on shares of Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Citigroup cut their target price on Evolent Health from $33.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $26.18.

Evolent Health Stock Performance

Evolent Health stock opened at $11.71 on Tuesday. The firm has a fifty day simple moving average of $21.12 and a two-hundred day simple moving average of $23.26. Evolent Health has a twelve month low of $11.17 and a twelve month high of $35.00. The company has a market capitalization of $1.36 billion, a PE ratio of -12.87 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Hedge Funds Weigh In On Evolent Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in Evolent Health by 40.8% during the 3rd quarter. Franklin Resources Inc. now owns 909,776 shares of the technology company’s stock valued at $24,682,000 after acquiring an additional 263,815 shares during the period. Brophy Wealth Management LLC purchased a new position in Evolent Health during the third quarter valued at $405,000. Barclays PLC boosted its holdings 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 acquiring an additional 176,445 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Evolent Health by 12.8% in the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after acquiring an additional 1,426,747 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Evolent Health by 1.0% during the third quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after acquiring an additional 25,967 shares in the last quarter.

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.