Evolent Health (NYSE:EVH) Earns Outperform Rating from Royal Bank of Canada

Evolent Health (NYSE:EVH)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $20.00 price objective on the technology company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 56.99% from the company’s current price.

Several other brokerages also recently issued reports on EVH. Oppenheimer lowered their price target on Evolent Health from $45.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. KeyCorp assumed coverage on Evolent Health in a research report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price target on the stock. Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $38.00 to $16.00 in a research report on Friday, November 8th. Barclays lowered their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their target price on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $29.50.

Evolent Health Price Performance

Shares of NYSE:EVH opened at $12.74 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.08 and a debt-to-equity ratio of 0.58. Evolent Health has a 1 year low of $12.37 and a 1 year high of $35.00. The business has a fifty day simple moving average of $25.82 and a 200 day simple moving average of $24.53. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -14.00 and a beta of 1.58.

Insider Buying and Selling

In other Evolent Health news, President Daniel Joseph Mccarthy sold 23,693 shares of Evolent Health 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 completion of the sale, the president now owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were 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 $12,357,720. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the transaction, the president now directly owns 198,809 shares of the company’s stock, valued at $6,141,210.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 307,291 shares of company stock worth $9,290,385 in the last quarter. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Several institutional investors and hedge funds have recently made changes to their positions in EVH. Scout Investments Inc. acquired a new position in Evolent Health in the 1st quarter worth $5,760,000. Harbor Capital Advisors Inc. boosted its stake in Evolent Health by 140.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock worth $11,946,000 after purchasing an additional 246,400 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Evolent Health by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 717,334 shares of the technology company’s stock worth $23,522,000 after purchasing an additional 75,376 shares during the period. Valeo Financial Advisors LLC acquired a new position in Evolent Health in the 2nd quarter worth $2,705,000. Finally, Gabelli Funds LLC boosted its stake in Evolent Health by 21.5% in the 1st quarter. Gabelli Funds LLC now owns 638,500 shares of the technology company’s stock worth $20,936,000 after purchasing an additional 113,000 shares during the period.

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.