Shares of Evolent Health Inc. (NYSE:EVH) fell 4.5% during trading on Thursday . The company traded as low as $23.76 and last traded at $23.77, with a volume of 106,759 shares trading hands. The stock had previously closed at $24.90.

Several research firms have issued reports on EVH. Canaccord Genuity began coverage on shares of Evolent Health in a research note on Wednesday, June 1st. They issued a “buy” rating on the stock. FBR & Co reiterated a “buy” rating on shares of Evolent Health in a research note on Saturday, May 14th. Zacks Investment Research cut shares of Evolent Health from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Leerink Swann reiterated a “buy” rating and issued a $20.00 target price on shares of Evolent Health in a research note on Monday, May 16th. Finally, Jefferies Group began coverage on shares of Evolent Health in a research note on Tuesday. They issued a “buy” rating and a $28.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $22.17.

The company has a market cap of $1.41 billion and a PE ratio of 6.28. The company has a 50-day moving average price of $19.85 and a 200 day moving average price of $13.48.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, May 12th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The company earned $49.50 million during the quarter, compared to the consensus estimate of $47.40 million. The company’s revenue was up 33.8% compared to the same quarter last year. On average, equities research analysts expect that Evolent Health Inc. will post ($0.62) earnings per share for the current fiscal year.

A hedge fund recently raised its stake 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.