TD Cowen Raises Evolent Health (NYSE:EVH) Price Target to $6.00

Evolent Health (NYSE:EVH) had its target price raised by equities research analysts at TD Cowen from $5.00 to $6.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. TD Cowen’s price objective would suggest a potential upside of 34.08% from the company’s current price.

A number of other brokerages have also recently issued reports on EVH. Weiss Ratings upgraded Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Truist Financial lowered their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, August 12th. Needham & Company LLC raised their price objective on shares of Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Canaccord Genuity Group lowered their target price on Evolent Health from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Finally, Citigroup raised shares of Evolent Health from a “neutral” rating to a “buy” rating and lowered their price target for the company from $6.75 to $6.00 in a report on Monday, August 10th. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.04.

Evolent Health Trading Down 4.4%

Shares of NYSE EVH traded down $0.20 during midday trading on Monday, hitting $4.47. 737,622 shares of the company traded hands, compared to its average volume of 3,065,245. Evolent Health has a 12-month low of $2.10 and a 12-month high of $10.08. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50-day moving average price of $4.77 and a 200 day moving average price of $3.73. The firm has a market cap of $505.94 million, a P/E ratio of -0.98 and a beta of 0.80.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $484.50 million during the quarter, compared to the consensus estimate of $597.70 million. Evolent Health had a negative net margin of 24.08% and a negative return on equity of 4.27%. Evolent Health’s revenue was up 46.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) earnings per share. As a group, analysts expect that Evolent Health will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC lifted its stake in Evolent Health by 4,000.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock valued at $35,000 after acquiring an additional 4,000 shares during the period. Strs Ohio acquired a new position in shares of Evolent Health during the 1st quarter valued at about $47,000. Headlands Technologies LLC purchased a new position in Evolent Health in the second quarter worth approximately $58,000. Quantbot Technologies LP acquired a new stake in shares of Evolent Health during the third quarter valued at about $88,000. Finally, Caxton Associates LLP purchased a new stake in shares of Evolent Health in the 3rd quarter valued at $93,000.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.