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

Shares of Evolent Health, Inc. (NYSE:EVH - Get Free Report) have been assigned an average rating of "Buy" from the fourteen brokerages 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 given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $17.71.

A number of equities analysts have weighed in on the stock. Piper Sandler reissued an "overweight" rating and issued a $16.00 price objective (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. JPMorgan Chase & Co. lowered their price target on Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Stephens cut their price target on Evolent Health from $16.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. Truist Financial lowered their price objective on Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $15.00 target price on shares of Evolent Health in a research note on Friday, February 21st.

Insider Transactions at Evolent Health

In related news, Director Diane Holder bought 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, with a total value of $25,517.55. Following the completion of the transaction, the director now directly owns 70,584 shares of the company's stock, valued at $658,548.72. This trade represents a 4.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brendan B. Springstubb bought 5,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $8.75 per share, with a total value of $43,750.00. Following the completion of the purchase, the director now owns 11,842 shares in the company, valued at approximately $103,617.50. The trade was a 73.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 74,000 shares of company stock valued at $666,315 over the last ninety days. Corporate insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Evolent Health

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Evolent Health by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company's stock valued at $125,676,000 after purchasing an additional 259,781 shares during the last quarter. Engaged Capital LLC raised its position in shares of Evolent Health by 35.5% during the fourth quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock worth $60,804,000 after purchasing an additional 1,415,300 shares during the period. Cadian Capital Management LP acquired a new stake in shares of Evolent Health in the 4th quarter valued at about $58,781,000. Granahan Investment Management LLC increased its position in shares of Evolent Health by 5.2% in the fourth quarter. Granahan Investment Management LLC now owns 3,673,710 shares of the technology company's stock valued at $41,329,000 after acquiring an additional 181,893 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Evolent Health by 19.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,897,443 shares of the technology company's stock worth $32,595,000 after acquiring an additional 466,225 shares in the last quarter.

Evolent Health Trading Down 2.3 %

EVH traded down $0.25 on Wednesday, reaching $10.44. 96,835 shares of the company's stock were exchanged, compared to its average volume of 2,365,758. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -12.62 and a beta of 1.20. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. Evolent Health has a twelve month low of $8.35 and a twelve month high of $33.63. The company's 50 day moving average is $9.48 and its 200-day moving average is $11.92.

Evolent Health (NYSE:EVH - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.35). The company had revenue of $646.54 million during the quarter, compared to analysts' expectations of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. Equities analysts predict that Evolent Health will post 0.08 earnings per share for the current year.

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.