Evolent Health (NYSE:EVH) Stock Price Down 5.5% - Should You Sell?

Key Points

• Evolent Health's shares fell by 5.5%, trading at $7.64 after reaching a low of $7.67, with a significant decline in trading volume of 79% from average levels.
• Wall Street analysts generally maintain a positive outlook, with twelve analysts rating the stock as a Buy, while two issued a Sell rating, reflecting a consensus target price of $15.85.
• The company reported $427.70 million in revenue for the most recent quarter, but has a negative net margin of 5.94% and a P/E ratio of -4.67.

Shares of Evolent Health, Inc (NYSE:EVH - Get Free Report) were down 5.5% during mid-day trading on Thursday . The company traded as low as $7.67 and last traded at $7.64. Approximately 547,399 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 2,668,287 shares. The stock had previously closed at $8.08.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EVH shares. Canaccord Genuity Group reissued a "buy" rating and issued a $16.00 price objective on shares of Evolent Health in a report on Tuesday, September 9th. Truist Financial boosted their price target on shares of Evolent Health from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Weiss Ratings restated a "sell (e+)" rating on shares of Evolent Health in a research report on Wednesday, October 8th. Piper Sandler boosted their price target on shares of Evolent Health from $16.00 to $18.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Finally, Zacks Research downgraded shares of Evolent Health from a "hold" rating to a "strong sell" rating in a research report on Friday, October 10th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $15.85.

Evolent Health Price Performance

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. The business's fifty day moving average is $8.76 and its 200 day moving average is $9.27. The firm has a market capitalization of $883.21 million, a P/E ratio of -4.67 and a beta of 0.66.

Evolent Health (NYSE:EVH - Get Free Report) last released its earnings results on Tuesday, June 4th. The technology company reported $0.21 EPS for the quarter. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. The business had revenue of $427.70 million for the quarter. As a group, analysts forecast that Evolent Health, Inc will post 0.08 EPS for the current year.

Institutional Trading of Evolent Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Evolent Health by 18.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,498 shares of the technology company's stock worth $346,000 after purchasing an additional 5,712 shares in the last quarter. Brighton Jones LLC bought a new stake in shares of Evolent Health in the 4th quarter worth approximately $3,927,000. Russell Investments Group Ltd. raised its holdings in shares of Evolent Health by 28.6% during the first quarter. Russell Investments Group Ltd. now owns 98,105 shares of the technology company's stock valued at $929,000 after acquiring an additional 21,826 shares during the period. Ballentine Partners LLC acquired a new stake in shares of Evolent Health during the second quarter valued at approximately $171,000. Finally, Northern Trust Corp raised its holdings in shares of Evolent Health by 0.7% during the first quarter. Northern Trust Corp now owns 1,203,501 shares of the technology company's stock valued at $11,397,000 after acquiring an additional 8,637 shares during the period.

Evolent Health Company Profile

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.

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