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

Shares of Evolent Health, Inc (NYSE:EVH) have received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $9.7692.

A number of research firms have recently commented on EVH. Citizens Jmp cut their target price on Evolent Health from $11.00 to $10.00 and set a “market outperform” rating on the stock in a research note on Tuesday, January 6th. Oppenheimer dropped their target price on shares of Evolent Health from $18.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 12th. Canaccord Genuity Group decreased their price target on shares of Evolent Health from $16.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Zacks Research raised Evolent Health from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Stephens upgraded Evolent Health from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective on the stock in a report on Thursday, November 13th.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, Director Brendan B. Springstubb acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was bought at an average cost of $3.82 per share, with a total value of $38,200.00. Following the completion of the purchase, the director directly owned 58,821 shares in the company, valued at $224,696.22. The trade was a 20.48% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Evolent Health

Several hedge funds have recently modified their holdings of EVH. Tejara Capital Ltd purchased a new position in Evolent Health during the fourth quarter valued at approximately $5,326,000. Rock Point Advisors LLC boosted its position in Evolent Health by 21.6% during the 4th quarter. Rock Point Advisors LLC now owns 1,190,156 shares of the technology company’s stock valued at $4,761,000 after acquiring an additional 211,707 shares in the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of Evolent Health by 483.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 124,177 shares of the technology company’s stock valued at $497,000 after acquiring an additional 102,889 shares during the period. Wealthfront Advisers LLC purchased a new position in shares of Evolent Health in the 4th quarter valued at $80,000. Finally, Evergreen Capital Management LLC bought a new position in shares of Evolent Health in the 4th quarter worth $70,000.

Evolent Health Trading Down 5.1%

EVH stock opened at $2.91 on Friday. Evolent Health has a twelve month low of $2.89 and a twelve month high of $12.06. The stock has a market capitalization of $324.20 million, a price-to-earnings ratio of -1.84 and a beta of 0.27. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.25. The firm’s fifty day simple moving average is $3.86 and its two-hundred day simple moving average is $6.56.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). Evolent Health had a positive return on equity of 1.79% and a negative net margin of 6.24%.The firm had revenue of $479.53 million for the quarter, compared to analysts’ expectations of $473.74 million. During the same period in the prior year, the firm posted ($0.27) earnings per share. Evolent Health’s revenue for the quarter was down 22.8% on a year-over-year basis. As a group, analysts anticipate that Evolent Health will post 0.08 earnings per share for the current year.

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.