Evolent Health (NYSE:EVH) Price Target Lowered to $44.00 at Canaccord Genuity Group

Evolent Health (NYSE:EVH) had its target price lowered by Canaccord Genuity Group from $45.00 to $44.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 34.39% from the company’s previous close.

A number of other brokerages have also weighed in on EVH. Barclays started coverage on shares of Evolent Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $39.00 price objective for the company. Oppenheimer started coverage on shares of Evolent Health in a research note on Friday, March 1st. They set an “outperform” rating and a $45.00 target price for the company. William Blair reiterated an “outperform” rating on shares of Evolent Health in a research note on Tuesday, January 9th. JMP Securities boosted their target price on shares of Evolent Health from $37.00 to $38.00 and gave the company a “market outperform” rating in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.70.

Evolent Health Stock Performance

Shares of EVH opened at $32.74 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average price is $31.82 and its 200-day moving average price is $29.72. Evolent Health has a 52 week low of $23.33 and a 52 week high of $36.70. The stock has a market cap of $3.78 billion, a P/E ratio of -25.78 and a beta of 1.54.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.13. Evolent Health had a positive return on equity of 6.60% and a negative net margin of 5.76%. The firm had revenue of $556.06 million for the quarter, compared to analysts’ expectations of $541.87 million. Equities research analysts anticipate that Evolent Health will post 0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HB Wealth Management LLC purchased a new stake in shares of Evolent Health during the 4th quarter valued at about $1,425,000. Swiss National Bank raised its position in shares of Evolent Health by 8.1% during the 3rd quarter. Swiss National Bank now owns 235,300 shares of the technology company’s stock valued at $6,407,000 after buying an additional 17,700 shares in the last quarter. Bellevue Group AG raised its position in shares of Evolent Health by 57.4% during the 2nd quarter. Bellevue Group AG now owns 3,448,322 shares of the technology company’s stock valued at $104,484,000 after buying an additional 1,257,175 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Evolent Health by 11.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,239,198 shares of the technology company’s stock valued at $115,433,000 after buying an additional 449,664 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its position in shares of Evolent Health by 499.9% during the 2nd quarter. Kennedy Capital Management LLC now owns 340,186 shares of the technology company’s stock valued at $10,308,000 after buying an additional 283,482 shares in the last quarter.

Evolent Health Company Profile

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.