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

Evolent Health, Inc. (NYSE:EVH) has earned an average recommendation of “Buy” from the twelve research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $26.18.

Several brokerages have issued reports on EVH. JPMorgan Chase & Co. dropped their target price on Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. KeyCorp initiated coverage on shares of Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective for the company. Stephens downgraded shares of Evolent Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $38.00 to $16.00 in a research note on Friday, November 8th. Oppenheimer dropped their price target on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, November 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Evolent Health in a research report on Tuesday, November 12th.

Hedge Funds Weigh In On Evolent Health

Several institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Evolent Health during the second quarter worth about $32,000. Covestor Ltd increased its stake in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after buying an additional 826 shares during the period. GAMMA Investing LLC lifted its holdings in Evolent Health by 5,365.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after buying an additional 1,556 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Evolent Health in the 2nd quarter valued at approximately $61,000. Finally, Quest Partners LLC acquired a new position in shares of Evolent Health in the second quarter worth $87,000.

Evolent Health Trading Up 2.5 %

Shares of Evolent Health stock opened at $11.25 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $14.50 and its 200-day simple moving average is $21.50. The stock has a market cap of $1.31 billion, a P/E ratio of -12.36 and a beta of 1.45. Evolent Health has a 1-year low of $10.53 and a 1-year high of $35.00.

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.