Citigroup Begins Coverage on Evolent Health (NYSE:EVH)

Citigroup began coverage on shares of Evolent Health (NYSE:EVH) in a research note issued to investors on Monday, Marketbeat reports. The brokerage issued a buy rating and a $40.00 price objective on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the company. Oppenheimer began coverage on Evolent Health in a research note on Friday, March 1st. They set an outperform rating and a $45.00 target price for the company. Canaccord Genuity Group reduced their price objective on Evolent Health from $45.00 to $44.00 and set a buy rating for the company in a research note on Thursday, March 28th. JMP Securities raised their price objective on Evolent Health from $37.00 to $38.00 and gave the company a market outperform rating in a research note on Friday, February 23rd. Barclays began coverage on Evolent Health in a research note on Wednesday, January 3rd. They issued an overweight rating and a $39.00 price objective for the company. Finally, William Blair reissued an outperform rating on shares of Evolent Health in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $42.70.

Evolent Health Trading Down 2.9 %

NYSE EVH opened at $29.26 on Monday. The business has a 50 day simple moving average of $31.93 and a 200 day simple moving average of $30.29. Evolent Health has a one year low of $23.33 and a one year high of $36.70. The stock has a market capitalization of $3.38 billion, a P/E ratio of -23.04 and a beta of 1.53. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, February 22nd. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.02 by $0.13. Evolent Health had a positive return on equity of 6.60% and a negative net margin of 5.76%. The business had revenue of $556.06 million during the quarter, compared to analysts’ expectations of $541.87 million. Research analysts expect that Evolent Health will post 0.87 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. HB Wealth Management LLC purchased a new position in Evolent Health in the fourth quarter worth $1,425,000. Swiss National Bank lifted its position in shares of Evolent Health by 8.1% during the 3rd quarter. Swiss National Bank now owns 235,300 shares of the technology company’s stock valued at $6,407,000 after buying an additional 17,700 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Evolent Health by 11.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,239,198 shares of the technology company’s stock valued at $115,433,000 after buying an additional 449,664 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Evolent Health by 7.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 847,768 shares of the technology company’s stock valued at $23,085,000 after buying an additional 59,376 shares during the last quarter. Finally, Cetera Trust Company N.A purchased a new position in shares of Evolent Health during the 4th quarter valued at $303,000.

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.