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

Evolent Health, Inc. (NYSE:EVH - Get Free Report) has been assigned an average rating of "Buy" from the fourteen research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $17.79.

EVH has been the subject of several recent research reports. UBS Group boosted their price objective on Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Truist Financial reduced their price target on Evolent Health from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. lowered their price target on Evolent Health from $13.00 to $12.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Piper Sandler reaffirmed an "overweight" rating and set a $16.00 price target (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price target on shares of Evolent Health in a report on Tuesday, May 13th.

Insider Transactions at Evolent Health

In other Evolent Health news, Director Brendan B. Springstubb purchased 5,000 shares of Evolent Health stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $8.75 per share, with a total value of $43,750.00. Following the acquisition, the director now owns 11,842 shares of the company's stock, valued at $103,617.50. This trade represents a 73.08% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Diane Holder bought 2,735 shares of Evolent Health stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $9.33 per share, with a total value of $25,517.55. Following the acquisition, the director now directly owns 70,584 shares of the company's stock, valued at approximately $658,548.72. The trade was a 4.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 74,000 shares of company stock valued at $666,315. Corporate insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its position in shares of Evolent Health by 181.3% during the third quarter. Barclays PLC now owns 273,776 shares of the technology company's stock worth $7,742,000 after buying an additional 176,445 shares during the period. Brighton Jones LLC purchased a new position in shares of Evolent Health during the fourth quarter worth $3,927,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Evolent Health in the fourth quarter valued at $134,000. KBC Group NV raised its stake in Evolent Health by 124.6% in the fourth quarter. KBC Group NV now owns 6,741 shares of the technology company's stock valued at $76,000 after buying an additional 3,739 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Evolent Health in the fourth quarter valued at $31,000.

Evolent Health Stock Performance

EVH traded down $0.01 during trading hours on Friday, hitting $7.70. The stock had a trading volume of 358,952 shares, compared to its average volume of 2,453,389. Evolent Health has a 1 year low of $7.06 and a 1 year high of $33.63. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market cap of $903.39 million, a PE ratio of -9.38 and a beta of 1.04. The company's fifty day simple moving average is $9.33 and its 200 day simple moving average is $10.34.

Evolent Health (NYSE:EVH - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02). The firm had revenue of $483.65 million during the quarter, compared to the consensus estimate of $460.15 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The business's quarterly revenue was down 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. Equities analysts anticipate that Evolent Health will post 0.08 earnings per share for the current year.

Evolent Health Company Profile

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.