Brokerages Set Evolent Health, Inc (NYSE:EVH) PT at $5.96

Shares of Evolent Health, Inc (NYSE:EVH) have been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $5.9643.

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Evolent Health from $5.00 to $6.00 and gave the company 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 report on Monday, August 10th. Weiss Ratings cut Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. TD Cowen upped their price target on Evolent Health from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Finally, Citigroup raised shares of Evolent Health from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $6.75 to $6.00 in a research report on Monday, August 10th.

Insider Buying and Selling at Evolent Health

In related news, President Daniel Mccarthy sold 65,892 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $5.00, for a total transaction of $329,460.00. Following the completion of the transaction, the president directly owned 655,133 shares in the company, valued at $3,275,665. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.48% of the stock is owned by insiders.

Institutional Trading of Evolent Health

A number of hedge funds have recently added to or reduced their stakes in EVH. Sequoia Financial Advisors LLC acquired a new stake in Evolent Health in the second quarter valued at approximately $78,000. WINTON GROUP Ltd raised its stake in Evolent Health by 29.6% in the 2nd quarter. WINTON GROUP Ltd now owns 26,700 shares of the technology company’s stock valued at $145,000 after purchasing an additional 6,100 shares during the last quarter. Corient Private Wealth LP lifted its holdings in Evolent Health by 447.4% in the 2nd quarter. Corient Private Wealth LP now owns 81,594 shares of the technology company’s stock valued at $442,000 after purchasing an additional 66,687 shares in the last quarter. HB Wealth Management LLC boosted its position in Evolent Health by 6.8% during the second quarter. HB Wealth Management LLC now owns 35,842 shares of the technology company’s stock worth $194,000 after acquiring an additional 2,282 shares during the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Evolent Health by 71.7% in the second quarter. Headlands Technologies LLC now owns 29,292 shares of the technology company’s stock valued at $159,000 after purchasing an additional 12,232 shares in the last quarter.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $3.69 on Friday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.24 and a current ratio of 1.24. Evolent Health has a one year low of $2.10 and a one year high of $9.63. The stock has a market cap of $416.62 million, a price-to-earnings ratio of -0.81 and a beta of 0.84. The stock has a 50 day moving average price of $4.39 and a 200-day moving average price of $3.97.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. Evolent Health had a negative net margin of 24.08% and a negative return on equity of 4.27%. The firm had revenue of $484.50 million during the quarter, compared to analyst estimates of $597.70 million. During the same quarter last year, the business earned ($0.10) EPS. The business’s revenue was up 46.9% on a year-over-year basis. Equities analysts expect that Evolent Health will post -0.25 EPS for the current year.

About Evolent Health

Evolent Health, Inc (NYSE: EVH) is a healthcare technology and services company focused on helping health plans and healthcare providers transition to value-based care. Its platform and services are designed to support the management of patient populations, improve clinical outcomes, and align healthcare payments with the quality and cost effectiveness of care.

The company provides solutions that may include specialty care management, population health management, administrative services, payment integrity, clinical decision support, and technology for coordinating care.