Evolent Health, Inc (NYSE:EVH) Given Average Rating of “Moderate Buy” by Brokerages

Evolent Health, Inc (NYSE:EVH) has been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $6.00.

A number of equities analysts have commented on the company. Royal Bank Of Canada decreased their target price on Evolent Health from $5.00 to $3.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 25th. Needham & Company LLC lifted their target price on Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded Evolent Health from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. BMO Capital Markets restated an “outperform” rating and issued a $3.50 target price on shares of Evolent Health in a research note on Wednesday, February 25th. Finally, BTIG Research decreased their target price 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.

Evolent Health Stock Performance

Shares of EVH stock opened at $4.47 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 2.46. The business has a 50 day moving average of $3.49 and a two-hundred day moving average of $3.48. Evolent Health has a 52 week low of $2.10 and a 52 week high of $12.06. The company has a market cap of $502.22 million, a P/E ratio of -0.94 and a beta of 0.84.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.02) 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 company had revenue of $496.25 million during the quarter, compared to the consensus estimate of $534.00 million. During the same period in the previous year, the firm posted $0.06 earnings per share. Evolent Health’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, analysts anticipate that Evolent Health will post -0.23 EPS for the current year.

Hedge Funds Weigh In On Evolent Health

Several hedge funds and other institutional investors have recently made changes to their positions in EVH. Durable Capital Partners LP acquired a new position in shares of Evolent Health during the second quarter worth approximately $72,326,000. Rubicon Founders LLC acquired a new position in shares of Evolent Health during the third quarter worth approximately $49,204,000. 8 Knots Management LLC acquired a new position in shares of Evolent Health during the second quarter worth approximately $32,802,000. Eventide Asset Management LLC boosted its position in shares of Evolent Health by 54.0% during the third quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company’s stock worth $53,246,000 after buying an additional 2,205,659 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Evolent Health by 162.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock worth $26,861,000 after buying an additional 1,754,520 shares during the period.

About Evolent Health

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.