Evolent Health (NYSE:EVH) Trading Down 6.1% - What's Next?

Evolent Health, Inc (NYSE:EVH - Get Free Report)'s stock price fell 6.1% during mid-day trading on Friday . The company traded as low as $10.90 and last traded at $10.58. 83,818 shares were traded during trading, a decline of 97% from the average session volume of 2,494,097 shares. The stock had previously closed at $11.27.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EVH. Truist Financial boosted their price objective on Evolent Health from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group boosted their price objective on Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC reiterated a "buy" rating and set a $15.00 price objective on shares of Evolent Health in a research note on Tuesday, May 13th. Finally, JMP Securities reiterated a "market outperform" rating and set a $13.00 price objective on shares of Evolent Health in a research note on Friday, June 20th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $17.93.

Evolent Health Stock Down 14.3%

The stock has a market capitalization of $1.13 billion, a P/E ratio of -7.87 and a beta of 1.01. The business has a 50-day moving average price of $9.46 and a 200 day moving average price of $9.83. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.69.

Evolent Health (NYSE:EVH - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $460.15 million. During the same quarter in the prior year, the business posted $0.34 EPS. The business's quarterly revenue was down 24.4% on a year-over-year basis. On average, equities analysts expect that Evolent Health, Inc will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Evolent Health by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company's stock worth $125,676,000 after acquiring an additional 259,781 shares during the last quarter. Eventide Asset Management LLC boosted its position in Evolent Health by 33.5% in the first 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 boosted its position in Evolent Health by 35.5% in the fourth quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock valued at $60,804,000 after buying an additional 1,415,300 shares during the last quarter. Cadian Capital Management LP purchased a new stake in Evolent Health in the fourth quarter valued at approximately $58,781,000. Finally, Granahan Investment Management LLC boosted its position in Evolent Health by 5.2% in the fourth quarter. Granahan Investment Management LLC now owns 3,673,710 shares of the technology company's stock valued at $41,329,000 after buying an additional 181,893 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.