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

Evolent Health (NYSE:EVH) had its price objective reduced by equities research analysts at Oppenheimer from $18.00 to $12.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target suggests a potential upside of 189.16% from the company’s current price.

EVH has been the topic of several other reports. Citizens Jmp cut their target price on shares of Evolent Health from $13.00 to $11.00 and set a “market outperform” rating on the stock in a report on Monday. BTIG Research dropped their price objective on Evolent Health from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 target price on shares of Evolent Health in a report on Tuesday, September 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Evolent Health in a report on Wednesday, October 8th. Finally, Stephens reaffirmed an “equal weight” rating and set a $9.00 price target on shares of Evolent Health in a research report on Wednesday, September 24th. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.36.

Evolent Health Stock Down 6.7%

Shares of Evolent Health stock opened at $4.15 on Wednesday. The business has a fifty day simple moving average of $7.77 and a 200 day simple moving average of $8.92. The stock has a market cap of $487.66 million, a PE ratio of -2.58 and a beta of 0.58. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.72. Evolent Health has a 12 month low of $4.13 and a 12 month high of $13.61.

Evolent Health (NYSE:EVH) last issued its earnings results on Tuesday, June 4th. The technology company reported $0.21 earnings per share (EPS) for the quarter. The firm had revenue of $427.70 million for the quarter. Evolent Health had a positive return on equity of 1.83% and a negative net margin of 5.94%. Research analysts predict that Evolent Health will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EVH. Nisa Investment Advisors LLC increased its stake in shares of Evolent Health by 88.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after purchasing an additional 1,194 shares during the last quarter. Parallel Advisors LLC boosted its stake in Evolent Health by 82.6% in the second quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock valued at $39,000 after buying an additional 1,577 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its position 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 during the last quarter. Banque Cantonale Vaudoise acquired a new position in Evolent Health during the first quarter worth about $25,000. Finally, Cetera Trust Company N.A lifted its holdings in shares of Evolent Health by 47.3% in the second quarter. Cetera Trust Company N.A now owns 9,725 shares of the technology company’s stock worth $110,000 after acquiring an additional 3,125 shares during 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.