Evolent Health’s (EVH) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Evolent Health (NYSE:EVH) in a research report report published on Friday morning,Benzinga reports. The firm currently has a $16.00 price objective on the technology company’s stock, down from their prior price objective of $17.00.

EVH has been the topic of several other reports. UBS Group reduced their price objective on Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Truist Financial reduced their price objective on Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Royal Bank of Canada dropped their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. BTIG Research dropped their target price on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of Evolent Health in a report on Friday. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Evolent Health presently has a consensus rating of “Buy” and an average target price of $17.79.

Evolent Health Price Performance

Shares of NYSE EVH opened at $10.44 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $1.22 billion, a P/E ratio of -12.73 and a beta of 1.45. The stock’s 50-day simple moving average is $10.75 and its two-hundred day simple moving average is $18.82. Evolent Health has a twelve month low of $9.45 and a twelve month high of $35.00.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.35). The firm had revenue of $646.54 million for the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. As a group, equities analysts anticipate that Evolent Health will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP raised its position in shares of Evolent Health by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after acquiring an additional 1,426,747 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Evolent Health by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock worth $125,676,000 after acquiring an additional 259,781 shares in the last quarter. Engaged Capital LLC raised its position in shares of Evolent Health by 35.5% in the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock worth $60,804,000 after acquiring an additional 1,415,300 shares in the last quarter. Cadian Capital Management LP bought a new position in shares of Evolent Health in the 4th quarter worth approximately $58,781,000. Finally, Eventide Asset Management LLC raised its position in shares of Evolent Health by 1.7% in the 3rd quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock worth $107,580,000 after acquiring an additional 64,985 shares in the last quarter.

About Evolent Health

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.