JPMorgan Chase & Co. Lowers Evolent Health (NYSE:EVH) Price Target to $15.00

Evolent Health (NYSE:EVH) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $45.00 to $15.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 33.33% from the company’s current price.

Other equities analysts have also issued reports about the stock. Oppenheimer decreased their price objective on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, November 18th. Stephens downgraded shares of Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $38.00 to $16.00 in a research note on Friday, November 8th. KeyCorp began coverage on Evolent Health in a research report on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price on the stock. Truist Financial reaffirmed a “buy” rating and set a $33.00 price target on shares of Evolent Health in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price objective on shares of Evolent Health in a report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $25.90.

Evolent Health Trading Down 2.9 %

Shares of NYSE:EVH opened at $11.25 on Friday. The business’s 50-day moving average is $23.26 and its 200 day moving average is $23.77. 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 has a 1 year low of $11.17 and a 1 year high of $35.00. The firm has a market capitalization of $1.31 billion, a P/E ratio of -12.36 and a beta of 1.58.

Institutional Investors Weigh In On Evolent Health

Several hedge funds have recently bought and sold shares of the stock. Brophy Wealth Management LLC purchased a new stake in Evolent Health during the third quarter worth $405,000. Barclays PLC raised its position in shares of Evolent Health by 181.3% in the third quarter. Barclays PLC now owns 273,776 shares of the technology company’s stock worth $7,742,000 after acquiring an additional 176,445 shares during the period. Wellington Management Group LLP boosted its stake in shares of Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after acquiring an additional 1,426,747 shares in the last quarter. State Street Corp grew its position in shares of Evolent Health by 1.0% during the 3rd quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after acquiring an additional 25,967 shares during the period. Finally, Point72 Asset Management L.P. increased its stake 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 valued at $42,289,000 after purchasing an additional 1,422,385 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.