Citigroup Lowers Evolent Health (NYSE:EVH) Price Target to $6.00

Evolent Health (NYSE:EVH) had its price objective reduced by equities researchers at Citigroup from $9.50 to $6.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s price target would suggest a potential upside of 43.37% from the company’s current price.

A number of other brokerages also recently weighed in on EVH. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evolent Health in a report on Monday, December 29th. Oppenheimer dropped their price target on Evolent Health from $18.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 12th. Zacks Research upgraded shares of Evolent Health from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Piper Sandler set a $6.00 price target on shares of Evolent Health in a report on Tuesday, December 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Evolent Health from $13.00 to $7.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.71.

Evolent Health Price Performance

Evolent Health stock traded up $0.03 during midday trading on Friday, reaching $4.19. The company’s stock had a trading volume of 432,615 shares, compared to its average volume of 1,868,904. The stock’s 50 day simple moving average is $4.34 and its 200 day simple moving average is $7.61. Evolent Health has a fifty-two week low of $3.49 and a fifty-two week high of $12.98. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $467.05 million, a PE ratio of -2.65 and a beta of 0.26.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Tuesday, June 4th. The technology company reported $0.21 earnings per share for the quarter. The company had revenue of $427.70 million during the quarter. Evolent Health had a positive return on equity of 1.79% and a negative net margin of 6.24%. On average, equities research analysts forecast that Evolent Health will post 0.08 earnings per share for the current year.

Insider Activity

In other Evolent Health news, Director Brendan B. Springstubb bought 10,000 shares of the stock in a transaction on Tuesday, November 18th. The stock was purchased at an average price of $3.82 per share, with a total value of $38,200.00. Following the acquisition, the director owned 58,821 shares of the company’s stock, valued at approximately $224,696.22. The trade was a 20.48% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC bought a new stake in shares of Evolent Health during the 4th quarter valued at approximately $3,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Evolent Health by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock valued at $1,217,000 after purchasing an additional 3,572 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Evolent Health by 162.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after buying an additional 1,754,520 shares during the period. Caxton Associates LLP acquired a new stake in Evolent Health during the 1st quarter worth approximately $252,000. Finally, Strs Ohio bought a new stake in Evolent Health during the 1st quarter worth approximately $47,000.

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.