Evolent Health, Inc (NYSE:EVH) Given Average Rating of “Moderate Buy” by Analysts

Evolent Health, Inc (NYSE:EVH) has been assigned an average rating of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $6.0769.

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Evolent Health from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Truist Financial lowered shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a report on Tuesday, June 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Evolent Health in a report on Wednesday, June 24th. Needham & Company LLC boosted their price objective on shares of Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Citigroup increased their price objective on Evolent Health from $4.00 to $5.50 and gave the company a “buy” rating in a research report on Friday, May 15th.

Institutional Trading of Evolent Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in Evolent Health by 51.6% during the 1st quarter. Royal Bank of Canada now owns 25,161 shares of the technology company’s stock valued at $57,000 after purchasing an additional 8,563 shares during the period. Maverick Capital Ltd. grew its position in shares of Evolent Health by 1.3% during the 1st quarter. Maverick Capital Ltd. now owns 2,572,763 shares of the technology company’s stock worth $5,866,000 after buying an additional 32,833 shares during the period. Sei Investments Co. raised its stake in shares of 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 buying an additional 101,867 shares during the last quarter. State of Wyoming raised its stake in shares of Evolent Health by 54.7% during the first quarter. State of Wyoming now owns 121,751 shares of the technology company’s stock worth $278,000 after buying an additional 43,061 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of Evolent Health during the first quarter worth approximately $488,000.

Evolent Health Price Performance

Shares of EVH stock opened at $5.70 on Monday. Evolent Health has a 52 week low of $2.10 and a 52 week high of $12.06. The stock has a market capitalization of $640.91 million, a PE ratio of -1.20 and a beta of 0.76. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.32 and a current ratio of 1.32. The stock’s fifty day moving average is $4.32 and its 200-day moving average is $3.60.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The business had revenue of $496.25 million during the quarter, compared to analysts’ expectations of $534.00 million. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 earnings per share. Equities research analysts expect that Evolent Health will post -0.16 EPS for the current fiscal year.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.