Evolent Health, Inc. (NYSE:EVH) Receives Average Rating of “Buy” from Analysts

Shares of Evolent Health, Inc. (NYSE:EVH) have been assigned an average recommendation of “Buy” from the fourteen research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, twelve have assigned 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 $17.71.

A number of brokerages recently issued reports on EVH. Barclays decreased their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. BTIG Research cut their target price on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Canaccord Genuity Group dropped their price objective on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price target on Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price target (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st.

Insider Activity

In other news, Director Diane Holder acquired 2,735 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the acquisition, the director now directly owns 70,584 shares in the company, valued at approximately $658,548.72. This represents a 4.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Seth Blackley acquired 55,225 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the purchase, the chief executive officer now directly owns 762,217 shares in the company, valued at approximately $6,867,575.17. This represents a 7.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 74,000 shares of company stock valued at $666,315 over the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Evolent Health

A number of hedge funds have recently made changes to their positions in EVH. Wellington Management Group LLP grew its holdings in Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after purchasing an additional 1,426,747 shares in the last quarter. Vanguard Group Inc. boosted its position in Evolent Health by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock valued at $125,676,000 after buying an additional 259,781 shares during the last quarter. Engaged Capital LLC grew its stake in shares of Evolent Health by 35.5% during the fourth quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock valued at $60,804,000 after acquiring an additional 1,415,300 shares in the last quarter. Cadian Capital Management LP acquired a new stake in shares of Evolent Health during the fourth quarter valued at about $58,781,000. Finally, Eventide Asset Management LLC boosted its holdings in Evolent Health by 1.7% in the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock valued at $107,580,000 after purchasing an additional 64,985 shares during the last quarter.

Evolent Health Trading Up 0.7 %

Shares of EVH stock opened at $9.06 on Tuesday. Evolent Health has a fifty-two week low of $8.35 and a fifty-two week high of $34.51. The stock has a market capitalization of $1.06 billion, a P/E ratio of -11.04 and a beta of 1.49. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50 day moving average price of $10.33 and a 200 day moving average price of $17.45.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results 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 company had revenue of $646.54 million during the quarter, compared to analysts’ expectations of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. Equities research analysts predict that Evolent Health will post 0.08 EPS for the current fiscal year.

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.