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

Shares of Evolent Health, Inc. (NYSE:EVH) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $42.00.

A number of equities analysts have issued reports on EVH shares. Citigroup started coverage on Evolent Health in a report on Monday, April 22nd. They set a “buy” rating and a $40.00 target price on the stock. JMP Securities reduced their target price on Evolent Health from $38.00 to $34.00 and set a “market outperform” rating on the stock in a report on Friday, May 10th. JPMorgan Chase & Co. cut their price objective on Evolent Health from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Finally, Canaccord Genuity Group cut their price objective on Evolent Health from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, May 10th.

Evolent Health Price Performance

Shares of EVH stock opened at $19.74 on Thursday. The stock has a 50-day moving average price of $23.35 and a 200 day moving average price of $28.72. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -15.79 and a beta of 1.54. Evolent Health has a 12 month low of $17.98 and a 12 month high of $35.00.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, May 9th. The technology company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. The firm had revenue of $639.65 million during the quarter, compared to analyst estimates of $601.60 million. Research analysts expect that Evolent Health will post 0.9 EPS for the current year.

Institutional Investors Weigh In On Evolent Health

Several institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Evolent Health by 96.1% during the 4th quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock worth $274,584,000 after purchasing an additional 4,073,959 shares during the last quarter. RA Capital Management L.P. increased its position in shares of Evolent Health by 125.0% during the 1st quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock worth $188,088,000 after purchasing an additional 3,187,000 shares during the last quarter. Norges Bank acquired a new position in shares of Evolent Health during the 4th quarter worth approximately $43,759,000. Point72 Asset Management L.P. increased its position in shares of Evolent Health by 81.3% during the 4th quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock worth $88,355,000 after purchasing an additional 1,199,400 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC increased its holdings in shares of Evolent Health by 126.5% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 565,625 shares of the technology company’s stock worth $18,547,000 after acquiring an additional 315,875 shares during the last quarter.

Evolent Health Company Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.