Evolent Health, Inc (NYSE:EVH) Receives $11.04 Consensus PT from Brokerages

Shares of Evolent Health, Inc (NYSE:EVH) have been assigned an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $11.0357.

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Evolent Health from $13.00 to $7.00 and set an “overweight” rating for the company in a research report on Monday, November 17th. Canaccord Genuity Group reduced their target price on shares of Evolent Health from $16.00 to $9.00 and set a “buy” rating for the company in a report on Friday, November 14th. BTIG Research decreased their price target on shares of Evolent Health from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Truist Financial cut their price objective on shares of Evolent Health from $16.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Finally, BMO Capital Markets began coverage on Evolent Health in a research note on Thursday, November 13th. They issued an “outperform” rating and a $7.00 price objective for the company.

Insider Buying and Selling

In related news, Director Brendan B. Springstubb acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were purchased at an average price of $3.82 per share, with a total value of $38,200.00. Following the completion of the purchase, the director directly owned 58,821 shares of the company’s stock, valued at $224,696.22. This represents a 20.48% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Evolent Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Evolent Health by 0.4% during the third quarter. Vanguard Group Inc. now owns 10,966,830 shares of the technology company’s stock valued at $92,779,000 after purchasing an additional 45,299 shares in the last quarter. Durable Capital Partners LP bought a new stake in shares of Evolent Health during the 2nd quarter valued at $72,326,000. Eventide Asset Management LLC lifted its stake in shares of Evolent Health by 54.0% during the 3rd quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company’s stock valued at $53,246,000 after buying an additional 2,205,659 shares in the last quarter. Engaged Capital LLC boosted its holdings in Evolent Health by 13.0% in the 2nd quarter. Engaged Capital LLC now owns 5,854,468 shares of the technology company’s stock worth $65,921,000 after buying an additional 675,000 shares during the period. Finally, Rubicon Founders LLC bought a new position in Evolent Health in the 3rd quarter worth $49,204,000.

Evolent Health Price Performance

Shares of EVH opened at $4.04 on Thursday. The firm has a fifty day simple moving average of $5.50 and a two-hundred day simple moving average of $8.10. The firm has a market cap of $450.31 million, a PE ratio of -2.55 and a beta of 0.28. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.25. Evolent Health has a 1-year low of $3.49 and a 1-year high of $12.98.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.21 EPS for the quarter. The company had revenue of $427.70 million during the quarter. Evolent Health had a positive return on equity of 1.79% and a negative net margin of 6.24%. On average, equities analysts anticipate 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.