Brokerages Set Evolent Health, Inc. (NYSE:EVH) Target Price at $40.40

Evolent Health, Inc. (NYSE:EVH) has been assigned an average rating of “Buy” from the twelve research firms that are covering the firm, Marketbeat reports. Twelve investment analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have covered the stock in the last year is $40.40.

A number of research analysts have recently issued reports on EVH shares. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 target price on shares of Evolent Health in a research report on Monday, August 26th. Stephens reaffirmed an “overweight” rating and issued a $42.00 price target on shares of Evolent Health in a research note on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price objective on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, August 19th. Truist Financial restated a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. Finally, JMP Securities dropped their price target on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $30.81 on Tuesday. Evolent Health has a 1 year low of $17.98 and a 1 year high of $35.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. The company’s fifty day moving average price is $26.22 and its 200 day moving average price is $26.46. The company has a market capitalization of $3.58 billion, a PE ratio of -24.65 and a beta of 1.57.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The firm had revenue of $647.10 million for the quarter, compared to analysts’ expectations of $636.46 million. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The company’s quarterly revenue was up 37.9% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. On average, research analysts predict that Evolent Health will post 0.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Seth Blackley sold 187,904 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the transaction, the chief executive officer now directly owns 411,924 shares in the company, valued at $12,357,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Jonathan Weinberg sold 42,140 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the completion of the transaction, the general counsel now directly owns 167,027 shares in the company, valued at approximately $5,211,242.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the sale, the chief executive officer now owns 411,924 shares in the company, valued at $12,357,720. The disclosure for this sale can be found here. Insiders have sold 307,291 shares of company stock valued at $9,290,385 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EVH. NBC Securities Inc. lifted its holdings in Evolent Health by 16.6% during the 1st quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after buying an additional 350 shares in the last quarter. Principal Financial Group Inc. grew its stake in Evolent Health by 3.2% during the 2nd quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock worth $298,000 after purchasing an additional 480 shares in the last quarter. Ascent Group LLC grew its stake in Evolent Health by 2.8% during the 1st quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock worth $667,000 after purchasing an additional 550 shares in the last quarter. SeaCrest Wealth Management LLC raised its position in Evolent Health by 6.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock valued at $195,000 after purchasing an additional 600 shares in the last quarter. Finally, American International Group Inc. raised its position in Evolent Health by 1.2% in the 1st quarter. American International Group Inc. now owns 55,402 shares of the technology company’s stock valued at $1,817,000 after purchasing an additional 640 shares in the last quarter.

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.