Evolent Health, Inc (NYSE:EVH) Stock Has Average Price Target of $5.96 According to Brokerages

Shares of Evolent Health, Inc (NYSE:EVH) have been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $5.96.

Several equities analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of Evolent Health from $5.00 to $6.00 and gave the company a “buy” rating in a report on Monday, August 17th. Truist Financial dropped their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, August 12th. Citigroup upgraded shares of Evolent Health from a “neutral” rating to a “buy” rating and cut their price objective for the company from $6.75 to $6.00 in a research report on Monday, August 10th. Canaccord Genuity Group cut their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Evolent Health from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Tuesday, August 18th.

Evolent Health Stock Up 8.5%

Shares of Evolent Health stock opened at $4.61 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.52. The business’s 50 day simple moving average is $4.09 and its 200-day simple moving average is $4.07. The stock has a market capitalization of $521.21 million, a price-to-earnings ratio of -1.01 and a beta of 1.02. Evolent Health has a twelve month low of $2.10 and a twelve month high of $8.30.

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

Insider Activity at Evolent Health

In other news, President Daniel Mccarthy sold 65,892 shares of Evolent Health stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $5.00, for a total transaction of $329,460.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.48% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVH. Maverick Capital Ltd. grew its stake in shares of Evolent Health by 1.3% in the first quarter. Maverick Capital Ltd. now owns 2,572,763 shares of the technology company’s stock worth $5,866,000 after purchasing an additional 32,833 shares in the last quarter. Castle Hook Partners LP acquired a new position in shares of Evolent Health during the fourth quarter valued at $3,751,000. Sei Investments Co. raised its stake in shares of Evolent Health by 50.8% during the first quarter. Sei Investments Co. now owns 302,281 shares of the technology company’s stock valued at $689,000 after purchasing an additional 101,867 shares in the last quarter. Congress Asset Management Co. raised its stake in shares of Evolent Health by 20.3% during the third quarter. Congress Asset Management Co. now owns 275,158 shares of the technology company’s stock valued at $960,000 after purchasing an additional 46,466 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of Evolent Health during the first quarter valued at about $488,000.

About Evolent Health

Evolent Health, Inc is a healthcare services and technology company that helps health plans and providers manage specialty care and transition to value-based models. Its offerings are designed to coordinate care, improve clinical outcomes and support more predictable healthcare costs across complex medical conditions.

The company provides technology-enabled administrative, clinical and analytical services for areas such as oncology, cardiology, musculoskeletal care and other specialty-care categories.