Evolent Health (NYSE:EVH) Stock Price Up 5.2% – What’s Next?

Evolent Health, Inc. (NYSE:EVH) traded up 5.2% during trading on Tuesday . The stock traded as high as $12.87 and last traded at $12.84. 1,052,131 shares changed hands during trading, a decline of 41% from the average session volume of 1,790,988 shares. The stock had previously closed at $12.21.

Wall Street Analyst Weigh In

EVH has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Evolent Health in a research report on Tuesday, November 12th. JPMorgan Chase & Co. decreased their price objective on Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday. Barclays cut their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Truist Financial reissued a “buy” rating and set a $33.00 target price on shares of Evolent Health in a research note on Tuesday, August 27th. Finally, JMP Securities dropped their price target on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Evolent Health presently has a consensus rating of “Buy” and a consensus target price of $25.90.

Evolent Health Trading Up 8.3 %

The stock has a 50-day moving average price of $22.89 and a two-hundred day moving average price of $23.64. The stock has a market capitalization of $1.54 billion, a PE ratio of -14.53 and a beta of 1.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EVH. Principal Financial Group Inc. raised its holdings in Evolent Health by 3.2% during the second quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock valued at $298,000 after acquiring an additional 480 shares during the period. SeaCrest Wealth Management LLC lifted its holdings in Evolent Health by 6.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock worth $195,000 after purchasing an additional 600 shares in the last quarter. American International Group Inc. lifted its holdings in Evolent Health by 1.2% in the 1st quarter. American International Group Inc. now owns 55,402 shares of the technology company’s stock worth $1,817,000 after purchasing an additional 640 shares in the last quarter. Arizona State Retirement System boosted its stake in Evolent Health by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 29,083 shares of the technology company’s stock worth $556,000 after purchasing an additional 649 shares during the period. Finally, Covestor Ltd grew its holdings in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after buying an additional 826 shares in the last quarter.

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.