Evolent Health (NYSE:EVH) Sees Strong Trading Volume

Evolent Health, Inc. (NYSE:EVH) saw unusually-high trading volume on Thursday . Approximately 2,742,652 shares were traded during mid-day trading, an increase of 115% from the previous session’s volume of 1,273,373 shares.The stock last traded at $19.97 and had previously closed at $19.11.

Analyst Ratings Changes

A number of research analysts have recently commented on EVH shares. Canaccord Genuity Group cut their price target on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, May 10th. JMP Securities reduced their target price on shares of Evolent Health from $38.00 to $34.00 and set a “market outperform” rating on the stock in a research report on Friday, May 10th. JPMorgan Chase & Co. lowered their price target on Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Friday, March 15th. Finally, Citigroup assumed coverage on Evolent Health in a report on Monday, April 22nd. They set a “buy” rating and a $40.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Evolent Health Trading Up 2.6 %

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $2.28 billion, a PE ratio of -15.69 and a beta of 1.54. The company’s fifty day moving average is $22.53 and its 200-day moving average is $28.31.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. The company had revenue of $639.65 million during the quarter, compared to analysts’ expectations of $601.60 million. On average, analysts predict that Evolent Health, Inc. will post 0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EVH. ICA Group Wealth Management LLC acquired a new stake in Evolent Health in the 4th quarter valued at about $33,000. Headlands Technologies LLC acquired a new stake in shares of Evolent Health in the first quarter valued at approximately $46,000. Signaturefd LLC lifted its position in Evolent Health by 1,470.7% during the fourth quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock worth $48,000 after buying an additional 1,353 shares in the last quarter. NBC Securities Inc. acquired a new position in Evolent Health during the fourth quarter worth $69,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Evolent Health in the 1st quarter valued at $88,000.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.