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

Key Points

• Evolent Health received a “Moderate Buy” consensus rating from 16 analysts, with 11 buy, four hold and one sell recommendation. The average 12-month price target is approximately $5.96, above the cited $4.16 opening price.
• The company reported adjusted quarterly EPS of $0.02, beating the expected loss of $0.01, while revenue rose 46.9% year over year to $484.5 million but came in below the $597.7 million consensus estimate.
• Evolent shares have traded between $2.10 and $9.63 over the past year, and company President Daniel McCarthy sold 65,892 shares for about $329,460 under a pre-arranged Rule 10b5-1 plan.

Evolent Health, Inc (NYSE:EVH - Get Free Report) has been given a consensus rating of "Moderate Buy" by the sixteen analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $5.9643.

Several research analysts recently commented on EVH shares. TD Cowen raised their target price on Evolent Health from $5.00 to $6.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. Citigroup raised shares of Evolent Health from a "neutral" rating to a "buy" rating and lowered their price target for the company from $6.75 to $6.00 in a report on Monday, August 10th. Canaccord Genuity Group dropped their price objective on shares of Evolent Health from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, August 10th. JPMorgan Chase & Co. raised their price objective on shares of Evolent Health from $5.00 to $6.00 and gave the stock an "overweight" rating in a report on Tuesday, August 18th. Finally, Weiss Ratings upgraded shares of Evolent Health from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, September 1st.

Evolent Health Trading Down 0.4%

Shares of EVH opened at $4.16 on Friday. The stock's 50-day moving average price is $4.57 and its 200 day moving average price is $3.94. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of $469.76 million, a price-to-earnings ratio of -0.91 and a beta of 0.84. Evolent Health has a 12-month low of $2.10 and a 12-month high of $9.63.

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

Insider Transactions at Evolent Health

In other Evolent Health news, President Daniel Mccarthy sold 65,892 shares of the firm's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $5.00, for a total transaction of $329,460.00. Following the completion of the transaction, the president owned 655,133 shares in the company, valued at $3,275,665. This trade represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Evolent Health

Hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC boosted its stake in Evolent Health by 4,000.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company's stock valued at $35,000 after buying an additional 4,000 shares in the last quarter. Strs Ohio bought a new stake in shares of Evolent Health during the first quarter valued at approximately $47,000. Headlands Technologies LLC bought a new position in Evolent Health in the 2nd quarter valued at $58,000. California State Teachers Retirement System increased its position in Evolent Health by 41.7% in the second quarter. California State Teachers Retirement System now owns 8,471 shares of the technology company's stock worth $46,000 after purchasing an additional 2,494 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Evolent Health during the third quarter worth approximately $88,000.

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.

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