Truist Financial Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its target price lowered by investment analysts at Truist Financial from $24.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Truist Financial’s price objective would indicate a potential upside of 78.25% from the company’s previous close.

A number of other research analysts also recently issued reports on EVH. Barclays reduced their target price on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Citigroup cut their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, January 10th. JMP Securities lowered their target price on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating for the company in a report on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price target on shares of Evolent Health in a research note on Tuesday, November 12th. Finally, Stephens lowered Evolent Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Evolent Health presently has a consensus rating of “Buy” and an average target price of $22.58.

Evolent Health Trading Down 9.4 %

Shares of EVH opened at $11.22 on Monday. The stock’s fifty day simple moving average is $12.69 and its 200-day simple moving average is $20.97. The firm has a market capitalization of $1.31 billion, a PE ratio of -12.33 and a beta of 1.45. Evolent Health has a 12-month low of $10.53 and a 12-month high of $35.00. 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 modified their holdings of the business. Royce & Associates LP bought a new stake in shares of Evolent Health in the third quarter valued at about $7,070,000. Foundry Partners LLC acquired a new stake in Evolent Health in the 3rd quarter valued at approximately $10,042,000. Harbor Capital Advisors Inc. lifted its stake in Evolent Health by 140.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock valued at $11,946,000 after acquiring an additional 246,400 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in Evolent Health by 53.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock worth $3,939,000 after acquiring an additional 121,369 shares during the last quarter. Finally, Bellevue Group AG grew its stake in shares of Evolent Health by 59.9% during the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after acquiring an additional 1,000,215 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.