Evolent Health (NYSE:EVH) Given New $28.00 Price Target at Oppenheimer

Evolent Health (NYSE:EVH) had its price target reduced by equities research analysts at Oppenheimer from $34.00 to $28.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target would suggest a potential upside of 125.81% from the stock’s current price.

A number of other research firms have also commented on EVH. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Evolent Health in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price target on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, August 19th. JMP Securities dropped their price target on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Truist Financial restated a “buy” rating and issued a $33.00 price target on shares of Evolent Health in a research note on Tuesday, August 27th. Finally, Citigroup dropped their price target on Evolent Health from $33.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $28.90.

Evolent Health Stock Up 0.2 %

Evolent Health stock opened at $12.40 on Monday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -13.63 and a beta of 1.58. The stock has a fifty day simple moving average of $25.11 and a two-hundred day simple moving average of $24.29. Evolent Health has a 12 month low of $12.18 and a 12 month high of $35.00. The company has a current ratio of 1.04, a quick ratio of 1.08 and a debt-to-equity ratio of 0.58.

Insider Activity at Evolent Health

In related news, CEO Seth Blackley sold 187,904 shares of Evolent Health stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the transaction, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. The trade was a 31.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total value of $1,314,768.00. Following the completion of the transaction, the general counsel now owns 167,027 shares in the company, valued at $5,211,242.40. The trade was a 20.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 307,291 shares of company stock worth $9,290,385. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Large investors have recently made changes to their positions in the business. Covestor Ltd lifted its position in shares of Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after acquiring an additional 826 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after acquiring an additional 1,556 shares in the last quarter. Quarry LP purchased a new position in shares of Evolent Health in the second quarter valued at about $32,000. Canada Pension Plan Investment Board purchased a new position in shares of Evolent Health in the second quarter valued at about $61,000. Finally, Quest Partners LLC purchased a new position in shares of Evolent Health in the second quarter valued at about $87,000.

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.