Evolent Health, Inc (NYSE:EVH) Receives $5.96 Average Price Target from Brokerages

Shares of Evolent Health, Inc (NYSE:EVH) have been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $5.9643.

Several research analysts recently issued reports on EVH shares. Citigroup upgraded shares of Evolent Health from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $6.75 to $6.00 in a research note on Monday, August 10th. TD Cowen upped their price target on Evolent Health from $5.00 to $6.00 and gave the company a “buy” rating in a report on Monday, August 17th. Canaccord Genuity Group dropped their target price on shares of Evolent Health from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Weiss Ratings upgraded Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 1st. Finally, Truist Financial cut their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, August 12th.

Evolent Health Stock Down 0.3%

Shares of Evolent Health stock opened at $3.73 on Friday. Evolent Health has a 12-month low of $2.10 and a 12-month high of $9.63. The company has a market cap of $421.60 million, a P/E ratio of -0.82 and a beta of 0.84. The company’s fifty day simple moving average is $4.47 and its two-hundred day simple moving average is $3.97. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.52.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $484.50 million during the quarter, compared to analyst estimates of $597.70 million. Evolent Health had a negative net margin of 24.08% and a negative return on equity of 4.27%. Evolent Health’s quarterly revenue was up 46.9% compared to the same quarter last year. During the same period last year, the business posted ($0.10) earnings per share. Research analysts anticipate that Evolent Health will post -0.25 EPS for the current year.

Insider Activity at Evolent Health

In related news, President Daniel Mccarthy sold 65,892 shares of Evolent Health stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $5.00, for a total transaction of $329,460.00. Following the transaction, the president owned 655,133 shares in the company, valued at approximately $3,275,665. The trade was a 9.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Maverick Capital Ltd. lifted its holdings in shares of Evolent Health by 1.3% in the first 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 in the last quarter. Tejara Capital Ltd bought a new position in Evolent Health during the fourth quarter valued at $5,326,000. Castle Hook Partners LP purchased a new position in shares of Evolent Health in the 4th quarter worth $3,751,000. GSA Capital Partners LLP grew its stake in shares of Evolent Health by 1,715.2% in the 4th quarter. GSA Capital Partners LLP now owns 308,149 shares of the technology company’s stock worth $1,233,000 after buying an additional 291,173 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Evolent Health in the 2nd quarter worth $760,000.

About Evolent Health

Evolent Health, Inc (NYSE: EVH) is a healthcare technology and services company focused on helping health plans and healthcare providers transition to value-based care. Its platform and services are designed to support the management of patient populations, improve clinical outcomes, and align healthcare payments with the quality and cost effectiveness of care.

The company provides solutions that may include specialty care management, population health management, administrative services, payment integrity, clinical decision support, and technology for coordinating care.