Stephens Upgrades Evolent Health (NYSE:EVH) to “Overweight”

Evolent Health (NYSE:EVH) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report issued on Thursday, Marketbeat reports. The firm presently has a $7.00 price target on the technology company’s stock. Stephens’ price objective would indicate a potential upside of 59.27% from the company’s current price.

EVH has been the subject of a number of other research reports. Canaccord Genuity Group reissued a “buy” rating and set a $16.00 target price on shares of Evolent Health in a report on Tuesday, September 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evolent Health in a research report on Wednesday, October 8th. BMO Capital Markets assumed coverage on shares of Evolent Health in a research report on Thursday. They issued an “outperform” rating and a $7.00 target price for the company. Piper Sandler lifted their price objective on shares of Evolent Health from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Finally, Citizens Jmp cut their target price on Evolent Health from $13.00 to $11.00 and set a “market outperform” rating for the company in a research note on Monday. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.36.

Evolent Health Stock Performance

Shares of EVH stock traded down $0.06 during midday trading on Thursday, hitting $4.40. 2,277,710 shares of the company were exchanged, compared to its average volume of 2,796,348. Evolent Health has a 52 week low of $4.31 and a 52 week high of $13.61. The firm has a market capitalization of $516.45 million, a P/E ratio of -2.73 and a beta of 0.58. The firm’s 50 day moving average price is $7.88 and its two-hundred day moving average price is $8.96. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.01.

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

Hedge Funds Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently modified their holdings of EVH. Banque Cantonale Vaudoise purchased a new stake in shares of Evolent Health during the 1st quarter worth approximately $25,000. Nisa Investment Advisors LLC grew its position in shares of Evolent Health by 88.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after purchasing an additional 1,194 shares in the last quarter. Parallel Advisors LLC raised 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 purchasing an additional 1,577 shares in the last quarter. Strs Ohio purchased a new position in Evolent Health in the 1st quarter worth approximately $47,000. Finally, US Bancorp DE increased its stake in Evolent Health by 291.0% in the first quarter. US Bancorp DE now owns 5,153 shares of the technology company’s stock valued at $49,000 after acquiring an additional 3,835 shares during the last quarter.

About Evolent Health

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.