Evolent Health, Inc. (NYSE:EVH) Receives Average Rating of "Buy" from Brokerages

Shares of Evolent Health, Inc. (NYSE:EVH - Get Free Report) have received an average recommendation of "Buy" from the fourteen ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $17.79.

A number of research analysts have recently weighed in on EVH shares. Piper Sandler reissued an "overweight" rating and set a $16.00 target price (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. JPMorgan Chase & Co. cut their price objective on shares of Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 price objective on shares of Evolent Health in a report on Tuesday, May 13th. UBS Group raised their price objective on shares of Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Truist Financial cut their price objective on shares of Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, April 10th.

Evolent Health Stock Down 4.1%

NYSE:EVH traded down $0.32 on Friday, hitting $7.33. The stock had a trading volume of 955,511 shares, compared to its average volume of 2,415,039. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $859.96 million, a P/E ratio of -8.93 and a beta of 1.04. Evolent Health has a 1 year low of $7.06 and a 1 year high of $33.63. The firm's fifty day simple moving average is $9.24 and its two-hundred day simple moving average is $10.27.

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

Insiders Place Their Bets

In other news, CEO Seth Blackley acquired 55,225 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the transaction, the chief executive officer now owns 762,217 shares of the company's stock, valued at $6,867,575.17. The trade was a 7.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diane Holder acquired 2,735 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the transaction, the director now directly owns 70,584 shares of the company's stock, valued at approximately $658,548.72. This trade represents a 4.03% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 74,000 shares of company stock valued at $666,315 over the last three months. Insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in shares of Evolent Health during the fourth quarter valued at approximately $2,542,000. Barclays PLC boosted its stake in shares of Evolent Health by 181.3% during the 3rd quarter. Barclays PLC now owns 273,776 shares of the technology company's stock worth $7,742,000 after acquiring an additional 176,445 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Evolent Health during the 4th quarter valued at $3,927,000. Charles Schwab Investment Management Inc. raised its position in shares of Evolent Health by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 918,992 shares of the technology company's stock valued at $10,339,000 after purchasing an additional 6,597 shares during the period. Finally, Levin Capital Strategies L.P. bought a new stake in shares of Evolent Health during the 4th quarter valued at $664,000.

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.