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

Evolent Health, Inc (NYSE:EVH) has been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $6.1607.

Several research firms recently commented on EVH. Truist Financial downgraded shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research note on Tuesday, June 30th. Citigroup reissued a “sell” rating and set a $6.75 target price (up from $5.50) on shares of Evolent Health in a research note on Thursday, July 23rd. TD Cowen dropped their price objective on shares of Evolent Health from $8.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday. Canaccord Genuity Group boosted their target price on shares of Evolent Health from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, Needham & Company LLC increased their price target on Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, May 7th.

Evolent Health Trading Down 1.4%

Shares of NYSE:EVH opened at $3.75 on Friday. Evolent Health has a one year low of $2.10 and a one year high of $10.30. The stock has a market capitalization of $422.37 million, a PE ratio of -0.79 and a beta of 0.76. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.32 and a quick ratio of 1.32. The company’s 50-day moving average price is $4.84 and its two-hundred day moving average price is $3.76.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The firm had revenue of $496.25 million during the quarter, compared to the consensus estimate of $534.00 million. During the same period last year, the company earned $0.06 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that Evolent Health will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Several hedge funds have recently modified their holdings of the company. Durable Capital Partners LP bought a new position in Evolent Health during the second quarter valued at $72,326,000. Rubicon Founders LLC bought a new position in shares of Evolent Health in the third quarter worth $49,204,000. 8 Knots Management LLC bought a new stake in shares of Evolent Health during the 2nd quarter valued at $32,802,000. Goldman Sachs Group Inc. boosted its stake in Evolent Health by 162.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock worth $26,861,000 after purchasing an additional 1,754,520 shares during the period. Finally, Tejara Capital Ltd purchased a new stake in shares of Evolent Health in the fourth quarter worth about $5,326,000.

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.