Evolent Health (NYSE:EVH) Given New $28.00 Price Target at Oppenheimer

Evolent Health (NYSE:EVH) had its price objective reduced by Oppenheimer from $34.00 to $28.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price suggests a potential upside of 125.81% from the company’s previous close.

Several other equities research analysts have also recently issued reports on EVH. JPMorgan Chase & Co. lifted their target price on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. KeyCorp initiated coverage on Evolent Health in a research note on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective on the stock. JMP Securities reduced their price objective on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Barclays reduced their price objective on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, Truist Financial reissued a “buy” rating and set a $33.00 price objective on shares of Evolent Health in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Evolent Health has an average rating of “Buy” and an average price target of $28.90.

Evolent Health Trading Up 0.2 %

Shares of EVH stock opened at $12.40 on Monday. Evolent Health has a 12-month low of $12.18 and a 12-month high of $35.00. The company has a current ratio of 1.04, a quick ratio of 1.08 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average price is $25.11 and its 200-day moving average price is $24.29. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -13.63 and a beta of 1.58.

Insider Activity at Evolent Health

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the completion of the sale, the chief executive officer now owns 411,924 shares in the company, valued at $12,357,720. This represents a 31.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total value of $731,876.77. Following the sale, the president now owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. This represents a 10.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 307,291 shares of company stock worth $9,290,385. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Evolent Health

A number of hedge funds have recently bought and sold shares of EVH. RA Capital Management L.P. lifted its holdings in Evolent Health by 125.0% during the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock worth $188,088,000 after buying an additional 3,187,000 shares during the period. Wellington Management Group LLP lifted its holdings in Evolent Health by 12.8% during 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 during the period. Point72 Asset Management L.P. lifted its holdings in Evolent Health by 1,948.5% during the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock worth $42,289,000 after buying an additional 1,422,385 shares during the period. William Blair Investment Management LLC lifted its holdings in Evolent Health by 35.2% during the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after buying an additional 1,308,376 shares during the period. Finally, First Light Asset Management LLC increased its position in shares of Evolent Health by 401.5% during the second 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 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.