Evolent Health (NYSE:EVH) Hits New 1-Year Low Following Analyst Downgrade

Evolent Health, Inc. (NYSE:EVH)’s share price hit a new 52-week low during trading on Thursday after Citigroup lowered their price target on the stock from $33.00 to $21.00. Citigroup currently has a buy rating on the stock. Evolent Health traded as low as $12.33 and last traded at $12.44, with a volume of 1120664 shares changing hands. The stock had previously closed at $12.75.

EVH has been the subject of a number of other research reports. Stephens cut Evolent Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $38.00 to $16.00 in a report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Evolent Health in a report on Tuesday. Barclays cut their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a report on Monday. JPMorgan Chase & Co. increased their price target on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Finally, Oppenheimer cut their price target on Evolent Health from $45.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $29.50.

Insider Buying and Selling

In related news, CEO Seth Blackley sold 187,904 shares of Evolent Health stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the transaction, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO John Paul Johnson sold 44,693 shares of Evolent Health stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $1,340,790.00. Following the sale, the chief financial officer now owns 171,207 shares in the company, valued at approximately $5,136,210. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Seth Blackley sold 187,904 shares of Evolent Health stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the sale, the chief executive officer now owns 411,924 shares in the company, valued at $12,357,720. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 307,291 shares of company stock worth $9,290,385. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Scout Investments Inc. purchased a new position in shares of Evolent Health during the first quarter worth about $5,760,000. Harbor Capital Advisors Inc. boosted its holdings in Evolent Health by 140.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock valued at $11,946,000 after purchasing an additional 246,400 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Evolent Health by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 717,334 shares of the technology company’s stock valued at $23,522,000 after purchasing an additional 75,376 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in Evolent Health in the 2nd quarter valued at approximately $2,705,000. Finally, Gabelli Funds LLC boosted its holdings in Evolent Health by 21.5% in the 1st quarter. Gabelli Funds LLC now owns 638,500 shares of the technology company’s stock valued at $20,936,000 after purchasing an additional 113,000 shares in the last quarter.

Evolent Health Price Performance

The stock has a fifty day simple moving average of $25.82 and a two-hundred day simple moving average of $24.53. The company has a market cap of $1.44 billion, a PE ratio of -14.00 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 1.08 and a debt-to-equity ratio of 0.58.

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.