Evolent Health, Inc (NYSE:EVH) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Evolent Health, Inc (NYSE:EVH) have been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $6.04.

EVH has been the topic of a number of recent research reports. Weiss Ratings lowered Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 16th. JPMorgan Chase & Co. boosted their target price on Evolent Health from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. Canaccord Genuity Group cut their price target on Evolent Health from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Citigroup raised Evolent Health from a “neutral” rating to a “buy” rating and cut their price target for the company from $6.75 to $6.00 in a research note on Monday, August 10th. Finally, Truist Financial decreased their price target on Evolent Health from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, August 12th.

Insiders Place Their Bets

In other Evolent Health news, President Daniel Mccarthy sold 65,892 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $5.00, for a total transaction of $329,460.00. Following the transaction, the president directly owned 655,133 shares in the company, valued at approximately $3,275,665. This represents a 9.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.48% of the company’s stock.

Institutional Investors Weigh In On Evolent Health

A number of institutional investors and hedge funds have recently modified their holdings of EVH. Maverick Capital Ltd. grew its holdings in Evolent Health by 1.3% during the 1st quarter. Maverick Capital Ltd. now owns 2,572,763 shares of the technology company’s stock worth $5,866,000 after acquiring an additional 32,833 shares during the period. Congress Asset Management Co. raised its position in shares of Evolent Health by 20.3% during the 3rd quarter. Congress Asset Management Co. now owns 275,158 shares of the technology company’s stock valued at $960,000 after acquiring an additional 46,466 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Evolent Health in the 2nd quarter valued at $760,000. Sei Investments Co. lifted its stake in shares of Evolent Health by 50.8% in the 1st quarter. Sei Investments Co. now owns 302,281 shares of the technology company’s stock valued at $689,000 after purchasing an additional 101,867 shares during the period. Finally, First Trust Advisors LP acquired a new position in shares of Evolent Health in the 1st quarter valued at $488,000.

Key Headlines Impacting Evolent Health

Here are the key news stories impacting Evolent Health this week:

• Positive Sentiment: Needham raised its price target to $6 from $5 and maintained a Buy rating, implying about 31% upside from the cited $4.58 share price. Needham rating
• Positive Sentiment: Management forecast 2026 revenue of $2.6 billion to $2.7 billion, a range whose midpoint is above the cited $2.6 billion analyst consensus. The company also said health-plan customers are renewing agreements and, in many cases, expanding their work with Evolent. Third-quarter results
• Neutral Sentiment: Adjusted earnings of $0.06 per share matched estimates and rose from $0.05 a year earlier. Revenue increased 51.3% year over year to $725.37 million, though it was slightly below the $727.06 million consensus. Q3 earnings report
• Negative Sentiment: The slight revenue miss and earnings that merely met expectations may have limited the market’s response to the strong growth and guidance. The company also reported a negative net margin, highlighting continued profitability challenges.

Evolent Health Trading Down 4.7%

Shares of NYSE EVH opened at $4.58 on Friday. Evolent Health has a 1-year low of $2.10 and a 1-year high of $6.34. The company has a market cap of $517.25 million, a PE ratio of -1.00 and a beta of 1.03. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.52. The company has a 50-day moving average of $4.17 and a two-hundred day moving average of $3.88.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, November 5th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Evolent Health had a negative net margin of 24.08% and a negative return on equity of 4.27%. The company had revenue of $725.37 million for the quarter, compared to analyst estimates of $727.06 million. During the same period in the prior year, the business earned $0.05 earnings per share. Evolent Health’s quarterly revenue was up 51.3% on a year-over-year basis. As a group, equities analysts expect that Evolent Health will post -0.25 earnings per share for the current fiscal year.

About Evolent Health

Evolent Health, Inc (NYSE: EVH) is a healthcare services and technology company that helps health plans and healthcare providers transition to value-based care. Its platform is designed to support the management of clinical programs, improve patient outcomes and coordinate care while helping customers manage healthcare costs.

The company provides specialty and total-cost-of-care solutions across areas such as cardiology, oncology, musculoskeletal care, radiology and other complex conditions.