Needham & Company LLC Reaffirms Buy Rating for Evolent Health (NYSE:EVH)

Evolent Health (NYSE:EVH)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $15.00 price target on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 52.05% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Barclays decreased their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. BTIG Research decreased their target price on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Royal Bank of Canada decreased their price objective on Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. Canaccord Genuity Group reduced their target price on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Finally, Citigroup lowered their price target on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $18.38.

Evolent Health Stock Down 0.8 %

Shares of NYSE:EVH opened at $9.87 on Wednesday. The firm has a 50 day simple moving average of $10.95 and a 200-day simple moving average of $19.50. Evolent Health has a twelve month low of $9.55 and a twelve month high of $35.00. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.15 billion, a PE ratio of -10.84 and a beta of 1.45.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wellington Management Group LLP increased its position in Evolent Health by 12.8% during the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after buying an additional 1,426,747 shares in the last quarter. Vanguard Group Inc. increased its position in Evolent Health by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock worth $125,676,000 after purchasing an additional 259,781 shares in the last quarter. Eventide Asset Management LLC increased its position in Evolent Health by 1.7% during the 3rd quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock worth $107,580,000 after purchasing an additional 64,985 shares in the last quarter. State Street Corp raised its stake in Evolent Health by 1.0% in the 3rd quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after purchasing an additional 25,967 shares during the last quarter. Finally, Bellevue Group AG lifted its holdings in Evolent Health by 59.9% in the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock valued at $75,509,000 after purchasing an additional 1,000,215 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.