Evolent Health (NYSE:EVH) Sets New 52-Week Low – Should You Sell?

Evolent Health, Inc. (NYSE:EVH)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $9.74 and last traded at $9.79, with a volume of 2041320 shares trading hands. The stock had previously closed at $10.37.

Analyst Ratings Changes

EVH has been the topic of several research analyst reports. Truist Financial reduced their price target on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Stephens cut their price objective on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. UBS Group cut their price target on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. JMP Securities cut 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 report on Friday, January 10th. Finally, KeyCorp started coverage on shares of Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $18.38.

Evolent Health Stock Up 0.1 %

The stock has a market capitalization of $1.14 billion, a P/E ratio of -10.76 and a beta of 1.45. The company’s 50-day moving average price is $11.04 and its 200 day moving average price is $19.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, November 7th. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.38). The company had revenue of $621.40 million for the quarter, compared to analysts’ expectations of $625.58 million. Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. During the same period in the previous year, the business posted $0.19 earnings per share. As a group, equities analysts expect that Evolent Health, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Evolent Health

Several institutional investors have recently bought and sold shares of EVH. The Manufacturers Life Insurance Company grew its stake in Evolent Health by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 67,499 shares of the technology company’s stock valued at $1,291,000 after acquiring an additional 4,572 shares in the last quarter. Algert Global LLC purchased a new position in Evolent Health during the second quarter valued at $200,000. Creative Planning grew its stake in shares of Evolent Health by 12.2% in the 2nd quarter. Creative Planning now owns 18,091 shares of the technology company’s stock worth $346,000 after buying an additional 1,973 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Evolent Health in the 3rd quarter worth $891,000. Finally, Park Avenue Securities LLC purchased a new position in shares of Evolent Health in the 3rd quarter worth $212,000.

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.