Evolent Health (NYSE:EVH) Trading Down 4.2% - Time to Sell?

Shares of Evolent Health, Inc (NYSE:EVH - Get Free Report) were down 4.2% during mid-day trading on Wednesday . The company traded as low as $11.29 and last traded at $11.29. Approximately 742,371 shares were traded during trading, a decline of 70% from the average daily volume of 2,514,081 shares. The stock had previously closed at $11.78.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EVH. JMP Securities restated a "market outperform" rating and issued a $13.00 target price on shares of Evolent Health in a report on Friday, June 20th. Needham & Company LLC restated a "buy" rating and issued a $15.00 target price on shares of Evolent Health in a report on Tuesday, May 13th. UBS Group upped their target price on shares of Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Truist Financial lowered their target price on shares of Evolent Health from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Evolent Health currently has a consensus rating of "Buy" and a consensus price target of $17.79.

Evolent Health Stock Performance

The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $1.31 billion, a PE ratio of -9.07 and a beta of 1.01. The company's 50 day simple moving average is $9.39 and its 200 day simple moving average is $9.81.

Evolent Health (NYSE:EVH - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). Evolent Health had a negative net margin of 4.54% and a positive return on equity of 3.64%. The firm had revenue of $483.65 million during the quarter, compared to analysts' expectations of $460.15 million. During the same quarter last year, the business posted $0.34 EPS. The company's quarterly revenue was down 24.4% on a year-over-year basis. Analysts expect that Evolent Health, Inc will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Evolent Health

Large investors have recently modified their holdings of the stock. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Evolent Health during the 4th quarter worth approximately $26,000. Banque Cantonale Vaudoise bought a new position in Evolent Health in the 1st quarter worth approximately $25,000. AlphaQuest LLC boosted its holdings in Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company's stock worth $34,000 after buying an additional 3,031 shares during the period. Parallel Advisors LLC boosted its holdings in Evolent Health by 82.6% in the 2nd 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 during the period. Finally, Strs Ohio bought a new position in Evolent Health in the 1st quarter worth approximately $47,000.

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.