Healthcare administration services specialist Evolent Health (NYSE: EVH) was a bit of an ill stock on Wednesday. The company's shares lost more than 6% of their value, on the second of two analyst price target cuts so far this week. That decline was much steeper than the S&P 500 index's 0.8% slide on the day.
Wednesday's price target cutter was Truist Securities' Jailendra Singh, who chopped $1 off his previous Evolent level to $32 per share. In doing so, Singh left his hold recommendation on the shares intact. The move comes after Singh on Monday held a "fireside chat," essentially an interview with Evolent's CEO Seth Blackley and its CFO John Johnson that was available to the public.
Singh's reduction marks the second thus far this week.
For further details see:
Why Evolent Health Stock Sank by Over 6% Today