Evolent Health (NYSE:EVH) Shares Gap Down – Here’s What Happened

Shares of Evolent Health, Inc (NYSE:EVH) gapped down before the market opened on Thursday. The stock had previously closed at $4.80, but opened at $4.25. Evolent Health shares last traded at $4.9050, with a volume of 173,665 shares changing hands.

Trending Headlines about Evolent Health

Here are the key news stories impacting Evolent Health this week:

• Positive Sentiment: Oppenheimer raised its price target to $7 from $6 and maintained an “outperform” rating, implying substantial upside from the cited $4.61 share price. Oppenheimer recommendations
• Positive Sentiment: Needham & Company lifted its target to $6 from $5 and kept a “buy” rating, adding to the favorable analyst outlook. Needham recommendations
• Positive Sentiment: EVH forecast fiscal 2026 revenue of $2.6 billion to $2.7 billion, with the top of the range above analysts’ $2.6 billion consensus. Third-quarter results and outlook
• Neutral Sentiment: Third-quarter adjusted earnings were $0.06 per share, matching estimates and improving from $0.05 a year earlier. Revenue rose 51.3% year over year to $725.37 million, but was slightly below the $727.06 million consensus. Third-quarter results
• Negative Sentiment: The reported quarter included a negative net margin of 24.08% and negative return on equity, highlighting that profitability remains a concern despite revenue growth and per-share earnings. Third-quarter results

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup upgraded Evolent Health from a “neutral” rating to a “buy” rating and dropped their target price for the company from $6.75 to $6.00 in a research report on Monday, August 10th. Weiss Ratings cut Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 16th. JPMorgan Chase & Co. increased their price target on Evolent Health from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. Canaccord Genuity Group dropped their price objective on Evolent Health from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Finally, Truist Financial cut their price objective on Evolent Health from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, August 12th. Eleven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Evolent Health presently has an average rating of “Moderate Buy” and an average price target of $6.11.

Evolent Health Price Performance

The stock’s 50 day simple moving average is $4.17 and its two-hundred day simple moving average is $3.88. The firm has a market capitalization of $520.64 million, a PE ratio of -1.01 and a beta of 1.03. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.24 and a current ratio of 1.24.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, November 5th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%. The company had revenue of $725.37 million for the quarter, compared to analyst estimates of $727.06 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. The firm’s quarterly revenue was up 51.3% compared to the same quarter last year. On average, sell-side analysts forecast that Evolent Health, Inc will post -0.25 EPS for the current year.

Insider Activity at Evolent Health

In other news, President Daniel Mccarthy sold 65,892 shares of Evolent Health stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $5.00, for a total transaction of $329,460.00. Following the completion of the sale, the president directly owned 655,133 shares of the company’s stock, valued at approximately $3,275,665. The trade was a 9.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.48% of the company’s stock.

Institutional Trading of Evolent Health

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP acquired a new stake in shares of Evolent Health during the 1st quarter worth about $488,000. Russell Investments Group Ltd. increased its stake in Evolent Health by 72.2% in the third quarter. Russell Investments Group Ltd. now owns 350,127 shares of the technology company’s stock valued at $1,222,000 after purchasing an additional 146,758 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Evolent Health during the second quarter worth approximately $760,000. Sei Investments Co. raised its holdings in Evolent Health by 50.8% during the first quarter. Sei Investments Co. now owns 302,281 shares of the technology company’s stock worth $689,000 after purchasing an additional 101,867 shares in the last quarter. Finally, Corient Private Wealth LP lifted its position in shares of Evolent Health by 447.4% during the 2nd quarter. Corient Private Wealth LP now owns 81,594 shares of the technology company’s stock worth $442,000 after buying an additional 66,687 shares during the last quarter.

Evolent Health Company Profile

Evolent Health, Inc (NYSE: EVH) is a healthcare services and technology company that helps health plans and healthcare providers transition to value-based care. Its platform is designed to support the management of clinical programs, improve patient outcomes and coordinate care while helping customers manage healthcare costs.

The company provides specialty and total-cost-of-care solutions across areas such as cardiology, oncology, musculoskeletal care, radiology and other complex conditions.