Shares of Evolent Health Inc. (NYSE:EVH) dropped 2.9% on Thursday . The stock traded as low as $23.47 and last traded at $23.48, with a volume of 158,450 shares changing hands. The stock had previously closed at $24.18.

EVH has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Evolent Health from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. Canaccord Genuity restated a “buy” rating on shares of Evolent Health in a research report on Friday, May 13th. FBR & Co restated a “buy” rating on shares of Evolent Health in a research report on Saturday, May 14th. Leerink Swann restated a “buy” rating and set a $20.00 price target on shares of Evolent Health in a research report on Monday, May 16th. Finally, Jefferies Group assumed coverage on shares of Evolent Health in a research report on Tuesday, July 26th. They set a “buy” rating and a $28.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $22.50.

The firm has a market cap of $1.51 billion and a P/E ratio of 6.70. The stock has a 50-day moving average of $20.97 and a 200 day moving average of $13.93.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.04. The business earned $56.50 million during the quarter, compared to the consensus estimate of $51.96 million. The company’s quarterly revenue was up 443.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.95) EPS. Equities analysts expect that Evolent Health Inc. will post ($0.60) earnings per share for the current fiscal year.

An institutional investor recently raised its position in Evolent Health stock. Schroder Investment Management Group raised its stake in shares of Evolent Health Inc. (NYSE:EVH) by 120.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,922 shares of the company’s stock after buying an additional 194,222 shares during the period. Schroder Investment Management Group owned about 0.60% of Evolent Health worth $4,310,000 at the end of the most recent quarter.

Evolent Health, Inc supports integrated health systems in their migration towards value-based care and population health management. The Company’s services include providing customers with a population management platform, integrated data and analytics capabilities, pharmacy benefit management services and health plan administration services.

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