Evolent Health (NYSE:EVH) Stock Price Up 6.2% – Still a Buy?

Evolent Health, Inc (NYSE:EVH)’s share price rose 6.2% during mid-day trading on Tuesday . The stock traded as high as $4.79 and last traded at $4.76. Approximately 1,048,604 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 2,938,130 shares. The stock had previously closed at $4.48.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank Of Canada cut their price target on shares of Evolent Health from $5.00 to $3.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 25th. Oppenheimer cut their target price on Evolent Health from $12.00 to $6.00 and set an “outperform” rating on the stock in a research note on Monday, March 2nd. KeyCorp downgraded Evolent Health from an “overweight” rating to a “sector weight” rating in a report on Wednesday, February 25th. BTIG Research decreased their price target on Evolent Health from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Finally, Needham & Company LLC lifted their target price on Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $6.08.

Evolent Health Trading Up 6.7%

The stock’s 50-day moving average price is $3.85 and its 200 day moving average price is $3.51. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $537.65 million, a PE ratio of -1.00 and a beta of 0.84.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The firm had revenue of $496.25 million during the quarter, compared to analyst estimates of $534.00 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. Evolent Health’s quarterly revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts expect that Evolent Health, Inc will post -0.16 EPS for the current fiscal year.

Institutional Trading of Evolent Health

Several institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Evolent Health in the first quarter worth about $26,000. CIBC Private Wealth Group LLC raised its holdings in shares of Evolent Health by 4,000.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock valued at $35,000 after purchasing an additional 4,000 shares in the last quarter. Strs Ohio purchased a new stake in shares of Evolent Health in the 1st quarter worth approximately $47,000. Vise Technologies Inc. purchased a new stake in shares of Evolent Health in the 4th quarter worth approximately $50,000. Finally, Royal Bank of Canada boosted its stake in shares of Evolent Health by 51.6% during the first quarter. Royal Bank of Canada now owns 25,161 shares of the technology company’s stock valued at $57,000 after purchasing an additional 8,563 shares in the last quarter.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.