Evolent Health (NYSE:EVH) Sets New 12-Month Low – Here’s What Happened

Shares of Evolent Health, Inc. (NYSE:EVH) hit a new 52-week low on Wednesday . The stock traded as low as $9.55 and last traded at $9.87, with a volume of 1535148 shares. The stock had previously closed at $9.94.

Analyst Ratings Changes

A number of brokerages have issued reports on EVH. UBS Group cut their target price on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Canaccord Genuity Group reduced their price objective on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Oppenheimer dropped their price target on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Barclays decreased their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. 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 report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $18.38.

Evolent Health Stock Up 3.7 %

The stock has a 50-day simple moving average of $10.88 and a 200-day simple moving average of $19.37. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $1.16 billion, a PE ratio of -10.94 and a beta of 1.45.

Institutional Investors Weigh In On Evolent Health

Several institutional investors have recently bought and sold shares of EVH. Covestor Ltd raised its position in shares of Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after purchasing an additional 826 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Evolent Health by 5,365.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,556 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Evolent Health in the 4th quarter worth $26,000. R Squared Ltd purchased a new stake in shares of Evolent Health in the fourth quarter valued at $31,000. Finally, AlphaQuest LLC lifted its position in shares of Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after purchasing an additional 3,031 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.