Evolent Health (NYSE:EVH) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Evolent Health (NYSE:EVH) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Stephens restated an “equal weight” rating and issued a $9.00 target price on shares of Evolent Health in a report on Wednesday, September 24th. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 price objective on shares of Evolent Health in a research note on Tuesday, September 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Evolent Health in a report on Wednesday, October 8th. BTIG Research dropped their price objective on Evolent Health from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Finally, Piper Sandler upped their target price on shares of Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.46.

Evolent Health Trading Down 5.5%

EVH stock traded down $0.28 during mid-day trading on Monday, reaching $4.77. The company’s stock had a trading volume of 882,782 shares, compared to its average volume of 2,766,925. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. The company has a market cap of $559.93 million, a price-to-earnings ratio of -2.96 and a beta of 0.58. The business’s 50 day moving average price is $7.98 and its 200 day moving average price is $8.99. Evolent Health has a 12 month low of $4.62 and a 12 month high of $14.53.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.21 earnings per share (EPS) for the quarter. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. The company had revenue of $427.70 million for the quarter. On average, equities research analysts predict that Evolent Health will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Evolent Health

Several hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in shares of Evolent Health by 88.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock worth $29,000 after purchasing an additional 1,194 shares during the last quarter. Parallel Advisors LLC increased its stake in Evolent Health by 82.6% in the second quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock valued at $39,000 after acquiring an additional 1,577 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its position in shares of Evolent Health by 10.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 27,242 shares of the technology company’s stock valued at $307,000 after purchasing an additional 2,666 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Evolent Health during the 1st quarter valued at about $25,000. Finally, Cetera Trust Company N.A lifted its position in Evolent Health by 47.3% in the 2nd quarter. Cetera Trust Company N.A now owns 9,725 shares of the technology company’s stock worth $110,000 after buying an additional 3,125 shares during 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.