JPMorgan Chase & Co. Boosts Evolent Health (NYSE:EVH) Price Target to $45.00

Evolent Health (NYSE:EVH) had its target price raised by JPMorgan Chase & Co. from $36.00 to $45.00 in a report released on Monday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other research analysts also recently issued reports on the stock. Citigroup initiated coverage on shares of Evolent Health in a research note on Monday, April 22nd. They issued a buy rating and a $40.00 price target for the company. Canaccord Genuity Group decreased their price objective on shares of Evolent Health from $44.00 to $41.00 and set a buy rating for the company in a research report on Friday, May 10th. Truist Financial raised Evolent Health from a hold rating to a buy rating and increased their target price for the company from $28.00 to $33.00 in a report on Friday, August 9th. Stephens reaffirmed an overweight rating and set a $42.00 price target on shares of Evolent Health in a report on Tuesday, July 30th. Finally, JMP Securities dropped their price objective on Evolent Health from $34.00 to $31.00 and set a market outperform rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $40.40.

Evolent Health Stock Performance

Shares of EVH stock opened at $28.11 on Monday. The firm has a 50 day moving average of $21.97 and a two-hundred day moving average of $26.52. The stock has a market capitalization of $3.27 billion, a PE ratio of -22.38 and a beta of 1.54. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. Evolent Health has a 52 week low of $17.98 and a 52 week high of $35.00.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. The firm had revenue of $647.10 million during the quarter, compared to analyst estimates of $636.46 million. During the same period last year, the business posted $0.06 earnings per share. Evolent Health’s revenue was up 37.9% compared to the same quarter last year. On average, research analysts predict that Evolent Health will post 0.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Evolent Health in the 2nd quarter valued at $32,000. Creative Planning increased its stake in Evolent Health by 12.2% in the second quarter. Creative Planning now owns 18,091 shares of the technology company’s stock valued at $346,000 after purchasing an additional 1,973 shares during the period. Algert Global LLC purchased a new stake in shares of Evolent Health in the second quarter valued at about $200,000. Ascent Group LLC boosted its stake in shares of Evolent Health by 28.2% during the second quarter. Ascent Group LLC now owns 26,065 shares of the technology company’s stock worth $498,000 after buying an additional 5,735 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of Evolent Health by 387.6% during the second quarter. Mackenzie Financial Corp now owns 34,783 shares of the technology company’s stock worth $665,000 after buying an additional 27,650 shares during the period.

Evolent Health Company Profile

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.