What Happened?
A number of stocks fell in the afternoon session after major indices including the S&P 500 and Dow Jones Industrial Average fell sharply as investors reacted to escalating uncertainty tied to the U.S.-Iran conflict and policy deadlines set by the Trump administration.
Markets dislike unpredictability, and these fears were amplified, raising concerns of prolonged conflict and rising oil prices. This negative outlook reflected in consumer confidence, with the University of Michigan's sentiment index sliding to a three-month low.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Testing & Diagnostics Services company RadNet (NASDAQ: RDNT) fell 4%. Is now the time to buy RadNet? Access our full analysis report here, it’s free.
- Healthcare Technology for Providers company Evolent Health (NYSE: EVH) fell 5.6%. Is now the time to buy Evolent Health? Access our full analysis report here, it’s free.
- Genomics & Sequencing company Illumina (NASDAQ: ILMN) fell 5.4%. Is now the time to buy Illumina? Access our full analysis report here, it’s free.
- Drug Development Inputs & Services company Charles River Laboratories (NYSE: CRL) fell 4.2%. Is now the time to buy Charles River Laboratories? Access our full analysis report here, it’s free.
- Drug Development Inputs & Services company Repligen (NASDAQ: RGEN) fell 3.6%. Is now the time to buy Repligen? Access our full analysis report here, it’s free.
Zooming In On Evolent Health (EVH)
Evolent Health’s shares are extremely volatile and have had 50 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 21 days ago when the stock dropped 6.9% on the news that the February jobs report revealed an unexpected contraction in employment, with the healthcare industry showing significant job losses. According to the Bureau of Labor Statistics, the economy lost 92,000 nonfarm payroll jobs, a stark reversal from the 50,000 gain that was anticipated by economists. The healthcare sector, typically a consistent source of job growth, shed 28,000 positions. This disappointing data has raised investor concerns about a potential economic slowdown, which could lead to reduced healthcare spending and demand for services, contributing to the sector's decline in the market.
Evolent Health is down 42.8% since the beginning of the year, and at $2.23 per share, it is trading 81.1% below its 52-week high of $11.79 from July 2025. Investors who bought $1,000 worth of Evolent Health’s shares 5 years ago would now be looking at only $113.06.
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