Evolent Health, Inc (NYSE:EVH) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Evolent Health received a “Moderate Buy” consensus rating from 16 analysts, with 11 buys, four holds and one sell. The average 12-month price target is $5.96, above the reported share price of $3.85.
• Recent analyst actions were mixed but generally constructive: Citigroup upgraded the stock to “buy,” while Truist maintained a “hold”; several firms lowered or raised their price targets to $6.00.
• The company exceeded quarterly earnings expectations with adjusted EPS of $0.02 versus a projected loss of $0.01, while revenue rose 46.9% year over year to $484.5 million, though it remained below estimates and profitability metrics were negative.

Evolent Health, Inc (NYSE:EVH - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the sixteen ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5.96.

A number of research firms have issued reports on EVH. Citigroup upgraded shares of Evolent Health from a "neutral" rating to a "buy" rating and reduced their target price for the company from $6.75 to $6.00 in a report on Monday, August 10th. Truist Financial cut their price objective on shares of Evolent Health from $7.00 to $6.00 and set a "hold" rating for the company in a research report on Wednesday, August 12th. Canaccord Genuity Group reduced 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 note on Monday, August 10th. Weiss Ratings upgraded shares of Evolent Health from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday. Finally, TD Cowen raised their target price on shares of Evolent Health from $5.00 to $6.00 and gave the stock a "buy" rating in a research report on Monday, August 17th.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, President Daniel Mccarthy sold 65,892 shares of the stock in a transaction 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 transaction, the president owned 655,133 shares of the company's stock, valued at $3,275,665. This represents a 9.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Evolent Health

Institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in Evolent Health in the 1st quarter worth about $26,000. Sequoia Financial Advisors LLC acquired a new position in shares of Evolent Health during the 2nd quarter valued at about $78,000. Royal Bank of Canada increased its stake in shares of Evolent Health by 51.6% during the 1st quarter. Royal Bank of Canada now owns 25,161 shares of the technology company's stock valued at $57,000 after acquiring an additional 8,563 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Evolent Health by 29.6% during the 2nd quarter. WINTON GROUP Ltd now owns 26,700 shares of the technology company's stock worth $145,000 after acquiring an additional 6,100 shares during the period. Finally, Wealthfront Advisers LLC lifted its holdings in shares of Evolent Health by 40.8% during the 1st quarter. Wealthfront Advisers LLC now owns 28,083 shares of the technology company's stock worth $64,000 after acquiring an additional 8,136 shares during the period.

Evolent Health Stock Performance

Evolent Health stock opened at $3.85 on Wednesday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a fifty day moving average of $3.99 and a two-hundred day moving average of $4.01. The company has a market capitalization of $435.51 million, a price-to-earnings ratio of -0.84 and a beta of 1.02. Evolent Health has a fifty-two week low of $2.10 and a fifty-two week high of $8.46.

Evolent Health (NYSE:EVH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.03. The company had revenue of $484.50 million during the quarter, compared to analysts' expectations 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 for the quarter was up 46.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) earnings per share. On average, analysts anticipate that Evolent Health will post -0.25 EPS for the current fiscal year.

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.

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