Evolent Health, Inc. (NYSE:EVH) Receives $38.60 Average Price Target from Brokerages

Evolent Health, Inc. (NYSE:EVH) has earned a consensus recommendation of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $34.90.

EVH has been the subject of a number of research reports. Oppenheimer reduced their target price on shares of Evolent Health from $45.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday. KeyCorp began coverage on Evolent Health in a report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective for the company. Truist Financial restated a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research note on Tuesday, August 27th. JPMorgan Chase & Co. increased their price target on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, August 19th. Finally, Stephens cut Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $38.00 to $16.00 in a research note on Friday.

Insider Activity at Evolent Health

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the sale, the chief executive officer now directly owns 411,924 shares in the company, valued at $12,357,720. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO John Paul Johnson sold 44,693 shares of Evolent Health stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $1,340,790.00. Following the completion of the sale, the chief financial officer now owns 171,207 shares in the company, valued at approximately $5,136,210. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $5,637,120.00. Following the completion of the transaction, the chief executive officer now owns 411,924 shares in the company, valued at approximately $12,357,720. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 307,291 shares of company stock valued at $9,290,385. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Evolent Health by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock valued at $357,905,000 after purchasing an additional 93,739 shares during the last quarter. RA Capital Management L.P. grew its position in Evolent Health by 125.0% during the first 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 during the last quarter. William Blair Investment Management LLC raised its stake in shares of Evolent Health by 35.2% during the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after acquiring an additional 1,308,376 shares in the last quarter. Engaged Capital LLC lifted 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 worth $78,611,000 after acquiring an additional 850,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Evolent Health by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company’s stock valued at $45,286,000 after purchasing an additional 121,770 shares in the last quarter.

Evolent Health Stock Performance

Shares of Evolent Health stock opened at $13.35 on Wednesday. The business’s fifty day simple moving average is $26.84 and its 200 day simple moving average is $24.87. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. Evolent Health has a 12 month low of $13.31 and a 12 month high of $35.00. The firm has a market capitalization of $1.55 billion, a P/E ratio of -14.67 and a beta of 1.58.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The company 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 business’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 EPS. As a group, analysts anticipate that Evolent Health will post 0.84 EPS for the current year.

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.