Evolent Health (NYSE:EVH) Stock Jumps 8.1% – Should You Buy?

Shares of Evolent Health, Inc (NYSE:EVH) shot up 8.1% during trading on Tuesday. The stock traded as high as $4.80 and last traded at $4.8450. 238,234 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 2,905,948 shares. The stock had previously closed at $4.48.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on EVH shares. Weiss Ratings cut shares of Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 16th. Canaccord Genuity Group decreased their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, August 10th. TD Cowen increased their price objective on shares of Evolent Health from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Truist Financial dropped their target price 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of Evolent Health from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.96.

Evolent Health Stock Down 0.9%

The stock’s 50 day moving average is $4.20 and its 200 day moving average is $4.18. 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 company has a market capitalization of $545.40 million, a PE ratio of -1.06 and a beta of 1.02.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%. The firm had revenue of $484.50 million for the quarter, compared to analysts’ expectations of $597.70 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The company’s revenue was up 46.9% on a year-over-year basis. On average, sell-side analysts anticipate that Evolent Health, Inc will post -0.25 EPS for the current fiscal year.

Insider Transactions at Evolent Health

In other Evolent Health news, President Daniel Mccarthy sold 65,892 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $5.00, for a total value of $329,460.00. Following the completion of the sale, the president owned 655,133 shares of the company’s stock, valued at $3,275,665. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.48% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EVH. R Squared Ltd bought a new stake in Evolent Health in the first quarter valued at approximately $26,000. Sequoia Financial Advisors LLC bought a new position in shares of Evolent Health in the second quarter worth approximately $78,000. Royal Bank of Canada grew its holdings in shares of Evolent Health by 51.6% in the first quarter. Royal Bank of Canada now owns 25,161 shares of the technology company’s stock worth $57,000 after purchasing an additional 8,563 shares during the last quarter. WINTON GROUP Ltd increased its stake in shares of Evolent Health by 29.6% in the second quarter. WINTON GROUP Ltd now owns 26,700 shares of the technology company’s stock worth $145,000 after buying an additional 6,100 shares during the period. Finally, Wealthfront Advisers LLC increased its stake in shares of Evolent Health by 40.8% in the first quarter. Wealthfront Advisers LLC now owns 28,083 shares of the technology company’s stock worth $64,000 after buying an additional 8,136 shares during the period.

Evolent Health Company Profile

Evolent Health, Inc is a healthcare services and technology company that helps health plans and providers manage specialty care and transition to value-based models. Its offerings are designed to coordinate care, improve clinical outcomes and support more predictable healthcare costs across complex medical conditions.

The company provides technology-enabled administrative, clinical and analytical services for areas such as oncology, cardiology, musculoskeletal care and other specialty-care categories.