Citizens Jmp Cuts Evolent Health (NYSE:EVH) Price Target to $10.00

Evolent Health (NYSE:EVH) had its target price trimmed by Citizens Jmp from $11.00 to $10.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a market outperform rating on the technology company’s stock.

Other research analysts have also issued reports about the stock. Oppenheimer dropped their price objective on shares of Evolent Health from $18.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, November 12th. Truist Financial decreased their target price on Evolent Health from $16.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 10th. BTIG Research reduced their price objective on Evolent Health from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 7th. BMO Capital Markets started coverage on shares of Evolent Health in a research note on Thursday, November 13th. They set an “outperform” rating and a $7.00 target price on the stock. Finally, Citigroup reissued a “market outperform” rating on shares of Evolent Health in a research note on Tuesday. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.96.

Evolent Health Stock Up 0.6%

NYSE:EVH opened at $4.18 on Tuesday. Evolent Health has a fifty-two week low of $3.49 and a fifty-two week high of $12.98. The firm has a 50-day simple moving average of $4.34 and a two-hundred day simple moving average of $7.61. The firm has a market cap of $465.93 million, a P/E ratio of -2.64 and a beta of 0.26. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.33 and a current ratio of 1.33.

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

Insider Activity at Evolent Health

In other Evolent Health news, Director Brendan B. Springstubb bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was purchased at an average price of $3.82 per share, for a total transaction of $38,200.00. Following the completion of the purchase, the director directly owned 58,821 shares in the company, valued at $224,696.22. This trade represents a 20.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its position in Evolent Health by 88.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after acquiring an additional 1,194 shares during the period. Parallel Advisors LLC increased its holdings in Evolent Health by 82.6% during the 2nd quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock worth $39,000 after purchasing an additional 1,577 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in Evolent Health by 10.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 27,242 shares of the technology company’s stock valued at $307,000 after acquiring an additional 2,666 shares in the last quarter. Cetera Trust Company N.A lifted its position in shares of Evolent Health by 47.3% during the second quarter. Cetera Trust Company N.A now owns 9,725 shares of the technology company’s stock worth $110,000 after purchasing an additional 3,125 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Evolent Health by 2.1% during the 1st quarter. Rhumbline Advisers now owns 169,918 shares of the technology company’s stock worth $1,609,000 after buying an additional 3,527 shares during the last quarter.

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.