Evolent Health, Inc (NYSE:EVH) Given Average Rating of “Moderate Buy” by Analysts

Shares of Evolent Health, Inc (NYSE:EVH) have earned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $5.9643.

A number of research firms have recently weighed in on EVH. Citigroup raised shares of Evolent Health from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $6.75 to $6.00 in a research report on Monday, August 10th. Truist Financial dropped their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, August 12th. Needham & Company LLC raised their target price on shares of Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. lifted their target price on shares of Evolent Health from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th. Finally, Weiss Ratings cut Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 18th.

Evolent Health Trading Down 0.4%

EVH opened at $4.72 on Tuesday. The stock has a market cap of $533.98 million, a PE ratio of -1.03 and a beta of 0.80. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 2.52. The business has a 50 day moving average of $4.77 and a 200-day moving average of $3.79. Evolent Health has a 52 week low of $2.10 and a 52 week high of $10.08.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $484.50 million for the quarter, compared to analysts’ expectations of $597.70 million. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%.The firm’s revenue for the quarter was up 46.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) earnings per share. Equities research analysts predict that Evolent Health will post -0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Several hedge funds have recently added to or reduced their stakes in EVH. R Squared Ltd bought a new position in shares of Evolent Health during the first quarter valued at $26,000. CIBC Private Wealth Group LLC boosted its stake in Evolent Health by 4,000.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock worth $35,000 after purchasing an additional 4,000 shares in the last quarter. California State Teachers Retirement System grew its position in Evolent Health by 41.7% during the 2nd quarter. California State Teachers Retirement System now owns 8,471 shares of the technology company’s stock valued at $46,000 after purchasing an additional 2,494 shares during the last quarter. Strs Ohio bought a new stake in Evolent Health during the 1st quarter valued at about $47,000. Finally, Vise Technologies Inc. bought a new stake in Evolent Health during the 4th quarter valued at about $50,000.

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.