Evolent Health, Inc (NYSE:EVH) Receives $5.96 Consensus PT from Analysts

Shares of Evolent Health, Inc (NYSE:EVH) have received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $5.9643.

EVH has been the topic of several recent research reports. Weiss Ratings raised shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 1st. Canaccord Genuity Group decreased their price target on shares of Evolent Health from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. JPMorgan Chase & Co. increased their price objective on shares of Evolent Health from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th. TD Cowen raised their target price on shares of Evolent Health from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Finally, Truist Financial dropped their price target on Evolent Health from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, August 12th.

Evolent Health Trading Down 2.3%

Shares of NYSE:EVH opened at $4.09 on Friday. The business’s 50 day moving average price is $4.54 and its 200-day moving average price is $3.96. Evolent Health has a 1 year low of $2.10 and a 1 year high of $9.63. The firm has a market capitalization of $462.87 million, a price-to-earnings ratio of -0.90 and a beta of 0.84. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.24 and a quick ratio of 1.24.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Thursday, August 6th. The technology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $484.50 million during the quarter, compared to analyst estimates of $597.70 million. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%.Evolent Health’s quarterly revenue was up 46.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) EPS. On average, equities research analysts forecast that Evolent Health will post -0.25 earnings per share for the current fiscal year.

Insider Activity

In other news, President Daniel Mccarthy sold 65,892 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $5.00, for a total transaction of $329,460.00. Following the transaction, the president owned 655,133 shares of the company’s stock, valued at approximately $3,275,665. The trade was a 9.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Evolent Health

Several hedge funds and other institutional investors have recently bought and sold shares of EVH. Sequoia Financial Advisors LLC acquired a new position in Evolent Health in the 2nd quarter valued at about $78,000. WINTON GROUP Ltd increased its holdings in shares of Evolent Health by 29.6% during the 2nd quarter. WINTON GROUP Ltd now owns 26,700 shares of the technology company’s stock worth $145,000 after buying an additional 6,100 shares during the last quarter. Corient Private Wealth LP increased its holdings in shares of Evolent Health by 447.4% during the 2nd quarter. Corient Private Wealth LP now owns 81,594 shares of the technology company’s stock worth $442,000 after buying an additional 66,687 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Evolent Health by 41.7% during the 2nd quarter. California State Teachers Retirement System now owns 8,471 shares of the technology company’s stock valued at $46,000 after buying an additional 2,494 shares during the period. Finally, HB Wealth Management LLC raised its position in shares of Evolent Health by 6.8% during the 2nd quarter. HB Wealth Management LLC now owns 35,842 shares of the technology company’s stock valued at $194,000 after buying an additional 2,282 shares during the period.

Evolent Health Company Profile

Evolent Health, Inc (NYSE: EVH) is a healthcare technology and services company focused on helping health plans and healthcare providers transition to value-based care. Its platform and services are designed to support the management of patient populations, improve clinical outcomes, and align healthcare payments with the quality and cost effectiveness of care.

The company provides solutions that may include specialty care management, population health management, administrative services, payment integrity, clinical decision support, and technology for coordinating care.