JPMorgan Chase & Co. Issues Pessimistic Forecast for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its target price decreased by JPMorgan Chase & Co. from $45.00 to $15.00 in a research note issued to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other research analysts have also commented on the stock. KeyCorp initiated coverage on shares of Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective for the company. Barclays lowered their price objective on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Oppenheimer lowered their price target on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, November 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Evolent Health in a report on Tuesday, November 12th. Finally, Citigroup dropped their target price on Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $25.90.

Evolent Health Trading Down 3.0 %

Shares of EVH stock opened at $11.25 on Friday. Evolent Health has a 1 year low of $11.17 and a 1 year high of $35.00. The firm’s fifty day simple moving average is $23.63 and its 200 day simple moving average is $23.91. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Institutional Investors Weigh In On Evolent Health

Several hedge funds and other institutional investors have recently made changes to their positions in EVH. Brophy Wealth Management LLC acquired a new stake in shares of Evolent Health during the 3rd quarter worth approximately $405,000. Barclays PLC boosted its stake in Evolent Health by 181.3% in the third quarter. Barclays PLC now owns 273,776 shares of the technology company’s stock valued at $7,742,000 after acquiring an additional 176,445 shares during the last quarter. Wellington Management Group LLP grew its holdings in Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after acquiring an additional 1,426,747 shares during the period. State Street Corp raised its position in shares of Evolent Health by 1.0% during the 3rd quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after acquiring an additional 25,967 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of Evolent Health by 1,948.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after purchasing an additional 1,422,385 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.