Evolent Health, Inc (NYSE:EVH) Stock Has Average Target Price of $5.96 According to Brokerages

Evolent Health, Inc (NYSE:EVH) has received an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat reports. One investment 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 twelve-month price target among brokers that have covered the stock in the last year is $5.96.

EVH has been the subject of a number of recent research reports. Truist Financial reduced their price target on shares of Evolent Health from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, August 12th. JPMorgan Chase & Co. lifted their price objective on shares of Evolent Health from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Tuesday, August 18th. Citigroup raised shares of Evolent Health from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $6.75 to $6.00 in a report on Monday, August 10th. Canaccord Genuity Group cut their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd.

Evolent Health Stock Up 0.4%

Shares of EVH stock opened at $4.05 on Wednesday. Evolent Health has a fifty-two week low of $2.10 and a fifty-two week high of $8.33. The firm has a market capitalization of $458.46 million, a PE ratio of -0.89 and a beta of 1.02. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50-day simple moving average is $4.04 and its 200-day simple moving average is $4.04.

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

Insider Transactions at Evolent Health

In other Evolent Health news, President Daniel Mccarthy sold 65,892 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $5.00, for a total value of $329,460.00. Following the sale, the president directly owned 655,133 shares of the company’s stock, valued at approximately $3,275,665. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Evolent Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HB Wealth Management LLC lifted its holdings in shares of Evolent Health by 6.8% in the 2nd quarter. HB Wealth Management LLC now owns 35,842 shares of the technology company’s stock valued at $194,000 after buying an additional 2,282 shares during the period. WINTON GROUP Ltd boosted its stake in shares of Evolent Health by 29.6% in the second quarter. WINTON GROUP Ltd now owns 26,700 shares of the technology company’s stock worth $145,000 after buying an additional 6,100 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Evolent Health by 40.8% in the first quarter. Wealthfront Advisers LLC now owns 28,083 shares of the technology company’s stock worth $64,000 after buying an additional 8,136 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Evolent Health by 51.6% in the first quarter. Royal Bank of Canada now owns 25,161 shares of the technology company’s stock worth $57,000 after buying an additional 8,563 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in Evolent Health during the first quarter worth about $26,000.

Evolent Health Company Profile

Evolent Health, Inc is a healthcare services and technology company that helps health plans and providers manage specialty care and transition to value-based models. Its offerings are designed to coordinate care, improve clinical outcomes and support more predictable healthcare costs across complex medical conditions.

The company provides technology-enabled administrative, clinical and analytical services for areas such as oncology, cardiology, musculoskeletal care and other specialty-care categories.