Evolent Health, Inc. (NYSE:EVH) Given Average Recommendation of “Moderate Buy” by Brokerages

Evolent Health, Inc. (NYSE:EVH) has received a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $42.00.

EVH has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on Evolent Health from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Citigroup assumed coverage on Evolent Health in a research report on Monday, April 22nd. They set a “buy” rating and a $40.00 target price on the stock. JMP Securities decreased their price target on Evolent Health from $38.00 to $34.00 and set a “market outperform” rating on the stock in a report on Friday, May 10th. Finally, Canaccord Genuity Group decreased their price target on Evolent Health from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, May 10th.

Evolent Health Stock Performance

Shares of EVH opened at $19.74 on Thursday. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -15.79 and a beta of 1.54. Evolent Health has a 12 month low of $17.98 and a 12 month high of $35.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $23.35 and its two-hundred day simple moving average is $28.72.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, May 9th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The firm had revenue of $639.65 million for the quarter, compared to the consensus estimate of $601.60 million. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. Research analysts anticipate that Evolent Health will post 0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Several large investors have recently made changes to their positions in EVH. Northern Trust Corp grew its position in Evolent Health by 2.5% in the third quarter. Northern Trust Corp now owns 1,217,726 shares of the technology company’s stock worth $33,159,000 after acquiring an additional 29,692 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Evolent Health by 7.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 847,768 shares of the technology company’s stock worth $23,085,000 after acquiring an additional 59,376 shares in the last quarter. Kennedy Capital Management LLC grew its position in Evolent Health by 6.2% in the third quarter. Kennedy Capital Management LLC now owns 361,145 shares of the technology company’s stock worth $9,834,000 after acquiring an additional 20,959 shares in the last quarter. RA Capital Management L.P. purchased a new position in Evolent Health in the third quarter worth about $74,520,000. Finally, Wellington Management Group LLP grew its position in Evolent Health by 11.9% in the third quarter. Wellington Management Group LLP now owns 4,239,198 shares of the technology company’s stock worth $115,433,000 after acquiring an additional 449,664 shares in the last quarter.

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.