Evolent Health (NYSE:EVH) Reaches New 12-Month Low – Time to Sell?

Evolent Health, Inc. (NYSE:EVH) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $9.40 and last traded at $9.48, with a volume of 2927141 shares trading hands. The stock had previously closed at $10.47.

Wall Street Analysts Forecast Growth

EVH has been the topic of several research analyst reports. JMP Securities reiterated a “market outperform” rating and set a $12.00 price target on shares of Evolent Health in a research report on Friday, February 14th. Royal Bank of Canada cut their price objective on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. Citigroup cut their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, January 10th. BTIG Research cut their price objective on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Finally, 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. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $17.79.

Evolent Health Trading Up 3.5 %

The firm’s 50 day moving average price is $10.61 and its 200-day moving average price is $18.39. The stock has a market cap of $1.05 billion, a P/E ratio of -10.95 and a beta of 1.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.35). The firm had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. As a group, equities research analysts forecast that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVH. US Bancorp DE lifted its position in Evolent Health by 180.3% during the third quarter. US Bancorp DE now owns 6,579 shares of the technology company’s stock valued at $186,000 after purchasing an additional 4,232 shares during the period. Harbor Capital Advisors Inc. lifted its position in Evolent Health by 140.0% during the third quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock valued at $11,946,000 after purchasing an additional 246,400 shares during the period. Principal Financial Group Inc. lifted its position in Evolent Health by 268.0% during the third quarter. Principal Financial Group Inc. now owns 57,382 shares of the technology company’s stock valued at $1,623,000 after purchasing an additional 41,788 shares during the period. Atria Investments Inc bought a new position in Evolent Health in the third quarter worth approximately $208,000. Finally, Covestor Ltd raised its position in Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after acquiring an additional 826 shares during the period.

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.