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

Shares of Evolent Health, Inc. (NYSE:EVH) have received an average rating of “Buy” from the fourteen analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $17.71.

EVH has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and set a $16.00 price objective (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of Evolent Health in a research report on Friday, February 21st. Truist Financial dropped their price target on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Royal Bank of Canada reduced their price objective on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, January 14th. Finally, Canaccord Genuity Group dropped their target price 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.

Insider Buying and Selling at Evolent Health

In other news, CEO Seth Blackley purchased 55,225 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were bought 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 of the company’s stock, valued at approximately $6,867,575.17. This trade represents a 7.81 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Diane Holder acquired 2,735 shares of the stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $9.33 per share, with a total value of $25,517.55. Following the purchase, the director now owns 70,584 shares of the company’s stock, valued at approximately $658,548.72. This trade represents a 4.03 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 74,000 shares of company stock worth $666,315 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Salem Investment Counselors Inc. grew its position in shares of Evolent Health by 53.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock worth $3,939,000 after acquiring an additional 121,369 shares during the last quarter. Nordea Investment Management AB grew its position in Evolent Health by 7.0% during the 4th quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock worth $1,469,000 after purchasing an additional 8,552 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Evolent Health by 90.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock valued at $9,036,000 after purchasing an additional 380,790 shares during the period. Franklin Resources Inc. raised its holdings in shares of Evolent Health by 40.8% in the third quarter. Franklin Resources Inc. now owns 909,776 shares of the technology company’s stock valued at $24,682,000 after buying an additional 263,815 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Evolent Health by 181.3% during the third quarter. Barclays PLC now owns 273,776 shares of the technology company’s stock worth $7,742,000 after buying an additional 176,445 shares during the period.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $9.98 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. Evolent Health has a 52-week low of $8.35 and a 52-week high of $33.63. The company has a fifty day moving average of $9.79 and a 200-day moving average of $14.83. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -12.17 and a beta of 1.49.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The company had revenue of $646.54 million for the quarter, compared to analysts’ expectations of $650.92 million. Equities research analysts expect that Evolent Health will post 0.08 EPS for the current 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.