Citigroup Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price target reduced by Citigroup from $33.00 to $21.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s target price points to a potential upside of 64.06% from the stock’s current price.

Several other analysts have also weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price objective on shares of Evolent Health in a report on Tuesday. Barclays lowered their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday. KeyCorp began coverage on shares of Evolent Health in a report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective for the company. Truist Financial reissued a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research note on Tuesday, August 27th. Finally, JMP Securities decreased their price objective on 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 company’s stock. Based on data from MarketBeat.com, Evolent Health presently has a consensus rating of “Buy” and a consensus target price of $29.50.

Evolent Health Stock Performance

Shares of EVH traded down $1.64 during trading hours on Wednesday, reaching $12.80. 2,595,157 shares of the company traded hands, compared to its average volume of 1,750,149. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.08 and a current ratio of 1.04. The stock’s fifty day moving average is $26.17 and its 200 day moving average is $24.61. Evolent Health has a 1-year low of $12.79 and a 1-year high of $35.00. The stock has a market cap of $1.49 billion, a P/E ratio of -14.07 and a beta of 1.58.

Insiders Place Their Bets

In other Evolent Health news, COO Emily Ann Rafferty sold 8,861 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $265,830.00. Following the completion of the transaction, the chief operating officer now directly owns 63,408 shares of the company’s stock, valued at approximately $1,902,240. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Jonathan Weinberg sold 42,140 shares of Evolent Health stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the completion of the sale, the general counsel now directly owns 167,027 shares of the company’s stock, valued at $5,211,242.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Emily Ann Rafferty sold 8,861 shares of Evolent Health stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $265,830.00. Following the sale, the chief operating officer now directly owns 63,408 shares of the company’s stock, valued at approximately $1,902,240. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 307,291 shares of company stock valued at $9,290,385 in the last 90 days. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Evolent Health

A number of institutional investors have recently made changes to their positions in EVH. Quantbot Technologies LP bought a new position in Evolent Health during the first quarter worth about $528,000. Oppenheimer & Co. Inc. bought a new position in Evolent Health during the first quarter worth about $459,000. Headlands Technologies LLC bought a new position in Evolent Health during the first quarter worth about $46,000. ProShare Advisors LLC lifted its holdings in Evolent Health by 10.8% during the first quarter. ProShare Advisors LLC now owns 20,198 shares of the technology company’s stock worth $662,000 after acquiring an additional 1,962 shares in the last quarter. Finally, Scout Investments Inc. bought a new position in Evolent Health during the first quarter worth about $5,760,000.

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.