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

Key Points

• Evolent Health, Inc has received a consensus rating of "Moderate Buy" from 15 research firms, with 12 analysts issuing buy recommendations.
• The average 12-month price target for Evolent Health is $15.85, reflecting positive sentiment among analysts despite two sell ratings.
• The company's shares opened at $8.17 and have experienced significant price fluctuations, with a 12-month low of $7.06 and a high of $25.22.

Shares of Evolent Health, Inc (NYSE:EVH - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fifteen research firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $15.8462.

Several equities research analysts recently commented on EVH shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Evolent Health in a report on Wednesday, October 8th. Stephens reaffirmed an "equal weight" rating and issued a $9.00 price target on shares of Evolent Health in a report on Wednesday, September 24th. Piper Sandler increased their price target on Evolent Health from $16.00 to $18.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Truist Financial increased their price target on Evolent Health from $14.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $16.00 price target on shares of Evolent Health in a report on Tuesday, September 9th.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $8.17 on Wednesday. The business has a 50 day simple moving average of $8.78 and a two-hundred day simple moving average of $9.28. Evolent Health has a 12 month low of $7.06 and a 12 month high of $25.22. The stock has a market capitalization of $959.47 million, a P/E ratio of -5.07 and a beta of 0.66. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.01 and a quick ratio of 1.01.

Evolent Health (NYSE:EVH - Get Free Report) last announced its earnings results on Tuesday, June 4th. The technology company reported $0.21 EPS for the quarter. Evolent Health had a positive return on equity of 1.83% and a negative net margin of 5.94%.The business had revenue of $427.70 million during the quarter. As a group, analysts predict that Evolent Health will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Evolent Health by 18.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,498 shares of the technology company's stock valued at $346,000 after purchasing an additional 5,712 shares during the last quarter. Brighton Jones LLC purchased a new position in Evolent Health in the fourth quarter worth approximately $3,927,000. Russell Investments Group Ltd. grew its position in Evolent Health by 28.6% in the first quarter. Russell Investments Group Ltd. now owns 98,105 shares of the technology company's stock worth $929,000 after acquiring an additional 21,826 shares during the period. Ballentine Partners LLC purchased a new position in Evolent Health in the second quarter worth approximately $171,000. Finally, Northern Trust Corp grew its position in Evolent Health by 0.7% in the first quarter. Northern Trust Corp now owns 1,203,501 shares of the technology company's stock worth $11,397,000 after acquiring an additional 8,637 shares during the period.

About Evolent Health

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.

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