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

Shares of Evolent Health, Inc. (NYSE:EVH) have been given an average recommendation of “Buy” by the twelve brokerages that are presently covering the firm, MarketBeat reports. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $38.60.

A number of research firms have weighed in on EVH. Stephens reaffirmed an “overweight” rating and set a $42.00 target price on shares of Evolent Health in a report on Tuesday, July 30th. Citigroup decreased their target price on Evolent Health from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. JMP Securities lowered their price objective on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and set a $33.00 price target on shares of Evolent Health in a research note on Tuesday, August 27th. Finally, KeyCorp initiated coverage on Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective on the stock.

Evolent Health Price Performance

Evolent Health stock opened at $23.56 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -25.06 and a beta of 1.58. Evolent Health has a 12 month low of $17.98 and a 12 month high of $35.00. The business’s 50 day simple moving average is $27.64 and its 200 day simple moving average is $25.03.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The business had revenue of $647.10 million for the quarter, compared to analysts’ expectations of $636.46 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The business’s revenue for the quarter was up 37.9% compared to the same quarter last year. Sell-side analysts forecast that Evolent Health will post 0.84 EPS for the current year.

Insider Activity

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the sale, the chief executive officer now owns 411,924 shares in the company, valued at approximately $12,357,720. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the transaction, the chief executive officer now owns 411,924 shares of the company’s stock, valued at approximately $12,357,720. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the sale, the president now owns 198,809 shares in the company, valued at approximately $6,141,210.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 307,291 shares of company stock valued at $9,290,385. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

A number of hedge funds have recently added to or reduced their stakes in EVH. Quarry LP purchased a new stake in Evolent Health during the 2nd quarter valued at $32,000. Covestor Ltd increased its position in Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after buying an additional 826 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after buying an additional 1,556 shares during the period. Headlands Technologies LLC bought a new position in shares of Evolent Health in the first quarter worth approximately $46,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Evolent Health during the 2nd quarter valued at $61,000.

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.