Evolent Health (NYSE:EVH) Given New $14.00 Price Target at UBS Group

Evolent Health (NYSE:EVH) had its price target reduced by analysts at UBS Group from $27.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. UBS Group’s price objective indicates a potential upside of 36.39% from the company’s current price.

Several other equities research analysts have also recently weighed in on EVH. JMP Securities reduced their price target on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating on the stock in a research report on Friday, January 10th. Needham & Company LLC initiated coverage on Evolent Health in a research report on Friday, January 10th. They issued a “buy” rating and a $15.00 price target for the company. KeyCorp assumed coverage on Evolent Health in a research note on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective for the company. Truist Financial lowered their price target on Evolent Health from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Monday. Finally, Royal Bank of Canada lowered their target price on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Evolent Health presently has a consensus rating of “Buy” and an average target price of $21.92.

Evolent Health Price Performance

Evolent Health stock traded up $0.30 during midday trading on Thursday, reaching $10.27. 2,882,411 shares of the stock traded hands, compared to its average volume of 2,453,332. The stock has a market cap of $1.20 billion, a P/E ratio of -11.28 and a beta of 1.45. The stock’s fifty day moving average is $12.15 and its 200-day moving average is $20.84. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a 12 month low of $9.88 and a 12 month high of $35.00.

Institutional Investors Weigh In On Evolent Health

Several hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in Evolent Health by 12.8% in the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after buying an additional 1,426,747 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Evolent Health by 1,948.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock worth $42,289,000 after acquiring an additional 1,422,385 shares in the last quarter. First Light Asset Management LLC lifted its stake in shares of Evolent Health by 401.5% during the 2nd quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock worth $27,634,000 after purchasing an additional 1,157,124 shares during the last quarter. Bellevue Group AG lifted its stake in shares of Evolent Health by 59.9% during the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after purchasing an additional 1,000,215 shares during the last quarter. Finally, Engaged Capital LLC boosted its position in Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after purchasing an additional 850,000 shares in the last quarter.

About Evolent Health

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.