Evolent Health (NYSE:EVH) Trading Down 4.8% – Should You Sell?

Evolent Health, Inc (NYSE:EVH) shares fell 4.8% on Wednesday . The company traded as low as $5.72 and last traded at $5.8910. Approximately 662,734 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 2,877,433 shares. The stock had previously closed at $6.19.

Analyst Ratings Changes

EVH has been the subject of a number of research reports. Canaccord Genuity Group increased their price target on Evolent Health from $4.00 to $6.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings raised Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. Citigroup upped their price objective on Evolent Health from $4.00 to $5.50 and gave the company a “buy” rating in a report on Friday, May 15th. Needham & Company LLC raised their target price on Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Truist Financial lowered Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a report on Tuesday, June 30th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.08.

Evolent Health Stock Down 3.7%

The stock has a market capitalization of $636.08 million, a P/E ratio of -1.19 and a beta of 0.76. The stock’s fifty day moving average is $4.70 and its two-hundred day moving average is $3.70. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.32 and a quick ratio of 1.32.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $496.25 million during the quarter, compared to the consensus estimate of $534.00 million. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. As a group, research analysts predict that Evolent Health, Inc will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Several hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new position in Evolent Health in the 1st quarter worth about $26,000. CIBC Private Wealth Group LLC lifted its stake in Evolent Health by 4,000.0% during the third quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock valued at $35,000 after buying an additional 4,000 shares in the last quarter. Strs Ohio purchased a new stake in Evolent Health during the first quarter valued at about $47,000. Vise Technologies Inc. purchased a new stake in Evolent Health during the fourth quarter valued at about $50,000. Finally, Royal Bank of Canada boosted its holdings in shares of Evolent Health by 51.6% in the first quarter. Royal Bank of Canada now owns 25,161 shares of the technology company’s stock worth $57,000 after buying an additional 8,563 shares during the period.

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.