Evolent Health (NYSE:EVH) Shares Down 11.5% – What’s Next?

Evolent Health, Inc (NYSE:EVH) shares fell 11.5% during trading on Thursday . The stock traded as low as $5.06 and last traded at $4.9320. Approximately 420,571 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 2,840,544 shares. The stock had previously closed at $5.57.

Wall Street Analysts Forecast Growth

EVH has been the topic of a number of recent research reports. Citigroup reissued a “sell” rating and issued a $6.75 target price (up from $5.50) on shares of Evolent Health in a report on Thursday. Canaccord Genuity Group boosted their price target on Evolent Health from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings raised shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. Truist Financial lowered shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a research report on Tuesday, June 30th. Finally, Needham & Company LLC raised their price objective on shares of Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Evolent Health presently has a consensus rating of “Moderate Buy” and an average price target of $6.25.

Evolent Health Stock Down 13.7%

The company has a market capitalization of $540.47 million, a PE ratio of -1.01 and a beta of 0.76. The company’s fifty day moving average is $4.83 and its 200-day moving average is $3.75. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.32 and a current ratio of 1.32.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in Evolent Health by 51.6% in the 1st 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 in the last quarter. Maverick Capital Ltd. lifted its position in shares of Evolent Health by 1.3% in the first quarter. Maverick Capital Ltd. now owns 2,572,763 shares of the technology company’s stock valued at $5,866,000 after acquiring an additional 32,833 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Evolent Health by 50.8% in the first quarter. Sei Investments Co. now owns 302,281 shares of the technology company’s stock worth $689,000 after acquiring an additional 101,867 shares during the period. State of Wyoming boosted its stake in shares of Evolent Health by 54.7% in the first quarter. State of Wyoming now owns 121,751 shares of the technology company’s stock worth $278,000 after acquiring an additional 43,061 shares during the period. Finally, First Trust Advisors LP bought a new position in shares of Evolent Health in the first quarter worth about $488,000.

Evolent Health Company Profile

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.