Evolent Health (NYSE:EVH) Sets New 1-Year Low - Should You Sell?

Shares of Evolent Health, Inc. (NYSE:EVH - Get Free Report) reached a new 52-week low during trading on Tuesday . The stock traded as low as $7.06 and last traded at $7.38, with a volume of 2212368 shares changing hands. The stock had previously closed at $7.36.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EVH shares. JPMorgan Chase & Co. cut their price objective on Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. UBS Group upped their price objective on Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Truist Financial cut their target price on shares of Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. JMP Securities restated a "market outperform" rating and issued a $13.00 target price on shares of Evolent Health in a report on Monday, April 28th. Finally, Piper Sandler reiterated an "overweight" rating and set a $16.00 price target (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st. One investment 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 company. According to MarketBeat.com, Evolent Health presently has an average rating of "Buy" and a consensus price target of $17.79.

Evolent Health Stock Performance

The stock's fifty day simple moving average is $9.21 and its two-hundred day simple moving average is $10.22. The company has a market cap of $875.80 million, a price-to-earnings ratio of -9.10 and a beta of 1.04. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02). The firm had revenue of $483.65 million for the quarter, compared to analysts' expectations of $460.15 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. Evolent Health's revenue was down 24.4% on a year-over-year basis. During the same period last year, the firm posted $0.34 EPS. Equities research analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling

In other news, CEO Seth Blackley bought 55,225 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the purchase, the chief executive officer now owns 762,217 shares of the company's stock, valued at $6,867,575.17. This trade represents a 7.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Daniel Joseph Mccarthy bought 11,040 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $9.01 per share, for a total transaction of $99,470.40. Following the purchase, the president now owns 389,004 shares in the company, valued at approximately $3,504,926.04. This represents a 2.92% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 74,000 shares of company stock valued at $666,315. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Cadian Capital Management LP acquired a new position in Evolent Health in the fourth quarter worth $58,781,000. Goldman Sachs Group Inc. grew its position in shares of Evolent Health by 162.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company's stock valued at $26,861,000 after buying an additional 1,754,520 shares during the last quarter. Eventide Asset Management LLC grew its position in shares of Evolent Health by 33.5% during the 1st quarter. Eventide Asset Management LLC now owns 6,077,191 shares of the technology company's stock valued at $57,555,000 after buying an additional 1,524,885 shares during the last quarter. Engaged Capital LLC raised its stake in Evolent Health by 35.5% during the fourth quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock worth $60,804,000 after acquiring an additional 1,415,300 shares during the period. Finally, Boston Partners lifted its holdings in Evolent Health by 92.0% in the fourth quarter. Boston Partners now owns 2,444,006 shares of the technology company's stock worth $27,097,000 after acquiring an additional 1,171,304 shares during 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.