KeyCorp Initiates Coverage on Evolent Health (NYSE:EVH)

KeyCorp assumed coverage on shares of Evolent Health (NYSE:EVH) in a research report sent to investors on Friday, Marketbeat reports. The firm issued an overweight rating and a $35.00 price objective on the technology company’s stock.

EVH has been the topic of several other research reports. JPMorgan Chase & Co. lifted their target price on Evolent Health from $36.00 to $45.00 and gave the company an overweight rating in a research report on Monday, August 19th. Stephens reaffirmed an overweight rating and set a $42.00 target price on shares of Evolent Health in a research report on Tuesday, July 30th. JMP Securities cut their target price on Evolent Health from $34.00 to $31.00 and set a market outperform rating on the stock in a research report on Friday, August 9th. Royal Bank of Canada reaffirmed an outperform rating and set a $42.00 target price on shares of Evolent Health in a research report on Tuesday, October 8th. Finally, Truist Financial reaffirmed a buy rating and set a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $39.91.

Evolent Health Trading Up 0.3 %

Shares of EVH stock opened at $27.14 on Friday. The company has a market cap of $3.15 billion, a P/E ratio of -21.71 and a beta of 1.56. The stock has a 50 day simple moving average of $28.53 and a two-hundred day simple moving average of $25.73. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. Evolent Health has a fifty-two week low of $17.98 and a fifty-two week high of $35.00.

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

Insider Buying and Selling at Evolent Health

In other Evolent Health news, President Daniel Joseph Mccarthy sold 23,693 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total value of $731,876.77. Following the sale, the president now directly owns 198,809 shares in the company, valued at $6,141,210.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Evolent Health news, President Daniel Joseph Mccarthy sold 23,693 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total value of $731,876.77. Following the sale, the president now directly owns 198,809 shares in the company, valued at $6,141,210.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Emily Ann Rafferty sold 8,861 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $265,830.00. Following the completion of the sale, the chief operating officer now owns 63,408 shares in the company, valued at approximately $1,902,240. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 307,291 shares of company stock worth $9,290,385 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Evolent Health

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Evolent Health by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock worth $357,905,000 after purchasing an additional 93,739 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Evolent Health by 96.1% in the 4th quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock valued at $274,584,000 after acquiring an additional 4,073,959 shares in the last quarter. RA Capital Management L.P. raised its holdings in shares of Evolent Health by 125.0% in the 1st quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock valued at $188,088,000 after acquiring an additional 3,187,000 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Evolent Health by 35.2% in the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after acquiring an additional 1,308,376 shares in the last quarter. Finally, Engaged Capital LLC raised its holdings in shares of Evolent Health by 26.1% in the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after acquiring an additional 850,000 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.