Citigroup Cuts Evolent Health (NYSE:EVH) Price Target to $21.00

Evolent Health (NYSE:EVH) had its price target trimmed by Citigroup from $33.00 to $21.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

EVH has been the topic of several other reports. JPMorgan Chase & Co. upped their price objective on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $38.00 to $16.00 in a report on Friday, November 8th. KeyCorp started coverage on Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $20.00 target price on shares of Evolent Health in a research note on Tuesday. Finally, JMP Securities dropped their price target on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $29.50.

Evolent Health Stock Down 2.3 %

Shares of Evolent Health stock opened at $12.38 on Wednesday. The company has a 50-day simple moving average of $25.11 and a two-hundred day simple moving average of $24.34. The stock has a market capitalization of $1.44 billion, a PE ratio of -13.60 and a beta of 1.58. Evolent Health has a 52-week low of $12.18 and a 52-week high of $35.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.08 and a current ratio of 1.04.

Insiders Place Their Bets

In other news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction 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 represents a 31.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total value of $1,314,768.00. Following the sale, the general counsel now directly owns 167,027 shares in the company, valued at $5,211,242.40. The trade was a 20.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 307,291 shares of company stock worth $9,290,385. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Evolent Health

A number of institutional investors have recently bought and sold shares of EVH. Scout Investments Inc. bought a new stake in shares of Evolent Health during the first quarter worth $5,760,000. Harbor Capital Advisors Inc. increased its position in Evolent Health by 140.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock valued at $11,946,000 after buying an additional 246,400 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of 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 during the last quarter. Valeo Financial Advisors LLC acquired a new stake in Evolent Health in the 2nd quarter worth approximately $2,705,000. Finally, Gabelli Funds LLC grew its position in Evolent Health by 21.5% during the 1st quarter. Gabelli Funds LLC now owns 638,500 shares of the technology company’s stock worth $20,936,000 after purchasing an additional 113,000 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.