Truist Financial Lowers Evolent Health (NYSE:EVH) Price Target to $10.00

Evolent Health (NYSE:EVH) had its price target reduced by stock analysts at Truist Financial from $16.00 to $10.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Truist Financial’s target price would indicate a potential upside of 93.99% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Citizens Jmp reduced their price objective on Evolent Health from $13.00 to $11.00 and set a “market outperform” rating for the company in a research report on Monday. Weiss Ratings restated a “sell (e+)” rating on shares of Evolent Health in a research note on Wednesday, October 8th. Piper Sandler lifted their target price on shares of Evolent Health from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Zacks Research lowered shares of Evolent Health from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Finally, BTIG Research decreased their price objective on Evolent Health from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.79.

Evolent Health Stock Performance

EVH traded up $0.20 during midday trading on Monday, reaching $5.16. The company’s stock had a trading volume of 1,959,091 shares, compared to its average volume of 2,710,074. Evolent Health has a twelve month low of $4.90 and a twelve month high of $15.56. The stock has a market cap of $605.76 million, a P/E ratio of -3.20 and a beta of 0.58. The company has a fifty day simple moving average of $8.16 and a 200 day simple moving average of $9.04. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72.

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

Hedge Funds Weigh In On Evolent Health

Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Evolent Health by 18.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,498 shares of the technology company’s stock worth $346,000 after acquiring an additional 5,712 shares during the period. Brighton Jones LLC bought a new position in shares of Evolent Health in the 4th quarter worth $3,927,000. Russell Investments Group Ltd. grew its stake in shares of Evolent Health by 28.6% during the first quarter. Russell Investments Group Ltd. now owns 98,105 shares of the technology company’s stock worth $929,000 after purchasing an additional 21,826 shares during the period. Ballentine Partners LLC bought a new stake in Evolent Health in the second quarter valued at about $171,000. Finally, Northern Trust Corp increased its holdings in Evolent Health by 0.7% in the first quarter. Northern Trust Corp now owns 1,203,501 shares of the technology company’s stock valued at $11,397,000 after purchasing an additional 8,637 shares during 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.