Citigroup Cuts Evolent Health (NYSE:EVH) Price Target to $6.00

Evolent Health (NYSE:EVH) had its price target trimmed by Citigroup from $9.50 to $6.00 in a research note published on Friday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other research firms also recently weighed in on EVH. Citizens Jmp decreased their price target on shares of Evolent Health from $11.00 to $10.00 and set a “market outperform” rating on the stock in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evolent Health in a report on Monday, December 29th. Piper Sandler set a $6.00 target price on Evolent Health in a research report on Tuesday, December 2nd. Zacks Research raised Evolent Health from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Finally, BTIG Research decreased their price objective on Evolent Health from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Evolent Health has a consensus rating of “Moderate Buy” and a consensus target price of $10.71.

Evolent Health Trading Down 0.1%

Shares of NYSE:EVH opened at $4.16 on Friday. The stock’s 50-day simple moving average is $4.29 and its two-hundred day simple moving average is $7.52. The stock has a market capitalization of $463.70 million, a price-to-earnings ratio of -2.63 and a beta of 0.26. Evolent Health has a 52-week low of $3.49 and a 52-week high of $12.98. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.33 and a current ratio of 1.33.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Tuesday, June 4th. The technology company reported $0.21 EPS for the quarter. The firm had revenue of $427.70 million during the quarter. Evolent Health had a negative net margin of 6.24% and a positive return on equity of 1.79%. Analysts expect that Evolent Health will post 0.08 EPS for the current year.

Insider Buying and Selling

In other Evolent Health news, Director Brendan B. Springstubb acquired 10,000 shares of the stock in a transaction dated Tuesday, November 18th. The shares were acquired at an average cost of $3.82 per share, for a total transaction of $38,200.00. Following the completion of the transaction, the director directly owned 58,821 shares of the company’s stock, valued at approximately $224,696.22. The trade was a 20.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EVH. Nisa Investment Advisors LLC boosted its stake in Evolent Health by 88.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock worth $29,000 after purchasing an additional 1,194 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Evolent Health by 82.6% in the second quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock worth $39,000 after buying an additional 1,577 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Evolent Health by 10.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 27,242 shares of the technology company’s stock worth $307,000 after acquiring an additional 2,666 shares during the last quarter. Cetera Trust Company N.A boosted its position in shares of Evolent Health by 47.3% during the second quarter. Cetera Trust Company N.A now owns 9,725 shares of the technology company’s stock worth $110,000 after acquiring an additional 3,125 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Evolent Health by 2.1% during the first quarter. Rhumbline Advisers now owns 169,918 shares of the technology company’s stock valued at $1,609,000 after acquiring an additional 3,527 shares in the last quarter.

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.