JPMorgan Chase & Co. Lowers Evolent Health (NYSE:EVH) Price Target to $12.00

Evolent Health (NYSE:EVH) had its price target cut by JPMorgan Chase & Co. from $13.00 to $12.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on EVH. JMP Securities reiterated a “market outperform” rating and issued a $12.00 target price on shares of Evolent Health in a report on Friday, February 14th. Canaccord Genuity Group dropped their price objective on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Royal Bank of Canada decreased their target price on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of Evolent Health in a report on Friday, February 21st. Finally, Stephens cut their price target on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $17.71.

Evolent Health Trading Up 1.0 %

EVH opened at $9.49 on Monday. The company has a market cap of $1.11 billion, a P/E ratio of -11.57 and a beta of 1.49. The company has a fifty day moving average price of $10.26 and a two-hundred day moving average price of $17.23. 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 has a 1-year low of $8.35 and a 1-year high of $34.07.

Evolent Health (NYSE:EVH) last issued its 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 firm had revenue of $646.54 million during 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%. Analysts predict that Evolent Health will post 0.08 EPS for the current fiscal year.

Insider Activity

In related news, Director Brendan B. Springstubb acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the completion of the acquisition, the director now owns 11,842 shares of the company’s stock, valued at approximately $103,617.50. This represents a 73.08 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diane Holder bought 2,735 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the completion of the purchase, the director now owns 70,584 shares of the company’s stock, valued at approximately $658,548.72. The trade was a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 74,000 shares of company stock valued at $666,315 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Evolent Health

Large investors have recently modified their holdings of the stock. Cadian Capital Management LP bought a new stake in Evolent Health in the 4th quarter valued at about $58,781,000. Wellington Management Group LLP increased 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 purchasing an additional 1,426,747 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Evolent Health by 1,948.5% in the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after purchasing an additional 1,422,385 shares during the period. Engaged Capital LLC lifted its stake in shares of Evolent Health by 35.5% during the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock valued at $60,804,000 after buying an additional 1,415,300 shares in the last quarter. Finally, Boston Partners boosted its holdings in Evolent Health by 92.0% in the 4th quarter. Boston Partners now owns 2,444,006 shares of the technology company’s stock worth $27,097,000 after buying an additional 1,171,304 shares during the period.

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.