Evolent Health, Inc. (NYSE:EVH) Given Consensus Rating of “Buy” by Brokerages

Evolent Health, Inc. (NYSE:EVH) has received an average recommendation of “Buy” from the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $17.71.

Several analysts have issued reports on EVH shares. Royal Bank of Canada dropped their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price objective (down previously from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. UBS Group cut their target price on Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Oppenheimer decreased their price target on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Citigroup reduced their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, January 10th.

Insider Activity at Evolent Health

In other news, Director Diane Holder purchased 2,735 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were acquired at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the purchase, the director now owns 70,584 shares in the company, valued at $658,548.72. This trade represents a 4.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brendan B. Springstubb acquired 5,000 shares of Evolent Health stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $8.75 per share, with a total value of $43,750.00. Following the completion of the purchase, the director now owns 11,842 shares of the company’s stock, valued at approximately $103,617.50. The trade was a 73.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 74,000 shares of company stock valued at $666,315 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Evolent Health

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted 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 valued at $356,200,000 after purchasing an additional 1,426,747 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Evolent Health by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock valued at $125,676,000 after buying an additional 259,781 shares during the period. Engaged Capital LLC boosted its stake in shares of Evolent Health by 35.5% in the fourth quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock worth $60,804,000 after buying an additional 1,415,300 shares during the last quarter. Cadian Capital Management LP acquired a new stake in Evolent Health during the fourth quarter worth about $58,781,000. Finally, Eventide Asset Management LLC raised its position in Evolent Health by 1.7% during the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock valued at $107,580,000 after acquiring an additional 64,985 shares in the last quarter.

Evolent Health Stock Performance

EVH stock opened at $9.44 on Tuesday. Evolent Health has a 1-year low of $8.35 and a 1-year high of $33.63. The business has a 50-day moving average price of $10.17 and a 200 day moving average price of $16.92. The company has a market capitalization of $1.10 billion, a P/E ratio of -11.51 and a beta of 1.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.35). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The business had revenue of $646.54 million during the quarter, compared to analysts’ expectations of $650.92 million. As a group, equities research analysts forecast that Evolent Health will post 0.08 EPS for the current fiscal 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.