Evolent Health, Inc. (NYSE:EVH) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Evolent Health, Inc. (NYSE:EVH) have been given a consensus rating of “Buy” by the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $17.71.

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. JMP Securities reiterated a “market outperform” rating and set a $12.00 price target on shares of Evolent Health in a report on Friday, February 14th. BTIG Research lowered their target price on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Citigroup lowered their target price on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Canaccord Genuity Group lowered their target price on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $9.96 on Tuesday. Evolent Health has a 52-week low of $8.35 and a 52-week high of $33.63. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -12.14 and a beta of 1.49. The stock’s fifty day simple moving average is $10.13 and its 200 day simple moving average is $16.66.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The business had revenue of $646.54 million for the quarter, compared to analysts’ expectations of $650.92 million. As a group, sell-side analysts forecast that Evolent Health will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Evolent Health news, CEO Seth Blackley acquired 55,225 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $9.01 per share, with a total value of $497,577.25. Following the transaction, the chief executive officer now owns 762,217 shares of the company’s stock, valued at approximately $6,867,575.17. This trade represents a 7.81 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brendan B. Springstubb acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $8.75 per share, with a total value of $43,750.00. Following the transaction, the director now directly owns 11,842 shares in the company, valued at $103,617.50. The trade was a 73.08 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 74,000 shares of company stock valued at $666,315 over the last quarter. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Several large investors have recently made changes to their positions in EVH. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Evolent Health during the 4th quarter worth about $26,000. R Squared Ltd acquired a new position in shares of Evolent Health during the 4th quarter worth about $31,000. AlphaQuest LLC raised its holdings in Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock valued at $34,000 after acquiring an additional 3,031 shares in the last quarter. Covestor Ltd raised its holdings in Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after acquiring an additional 826 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Evolent Health by 90.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after acquiring an additional 2,358 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.