Evolent Health (NYSE:EVH) Trading Up 5.4% - Here's What Happened

Evolent Health, Inc (NYSE:EVH - Get Free Report)'s share price rose 5.4% during mid-day trading on Monday . The company traded as high as $9.85 and last traded at $9.75. Approximately 3,240,371 shares changed hands during mid-day trading, an increase of 34% from the average daily volume of 2,414,981 shares. The stock had previously closed at $9.25.

Analyst Ratings Changes

A number of analysts have commented on EVH shares. Truist Financial decreased their target price on Evolent Health from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price objective on shares of Evolent Health in a research report on Tuesday, May 13th. UBS Group upped their target price on shares of Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. lowered their price objective on Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Finally, JMP Securities reissued a "market outperform" rating and issued a $13.00 target price on shares of Evolent Health in a research report on Friday, June 20th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Evolent Health presently has a consensus rating of "Buy" and an average price target of $17.79.

Evolent Health Stock Up 0.2%

The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -8.73 and a beta of 0.87. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $8.91 and a 200-day simple moving average of $9.80.

Evolent Health (NYSE:EVH - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). The company had revenue of $483.65 million during the quarter, compared to analyst estimates of $460.15 million. Evolent Health had a negative net margin of 4.54% and a positive return on equity of 3.64%. The company's revenue was down 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. On average, sell-side analysts forecast that Evolent Health, Inc will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

A number of large investors have recently bought and sold shares of the company. Summit Creek Advisors LLC raised its position in Evolent Health by 0.8% during the fourth quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company's stock worth $2,274,000 after acquiring an additional 1,636 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Evolent Health in the fourth quarter valued at approximately $26,000. Parkside Financial Bank & Trust lifted its position in shares of Evolent Health by 90.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company's stock valued at $56,000 after acquiring an additional 2,358 shares during the period. Johnson Investment Counsel Inc. grew its stake in Evolent Health by 28.0% during the fourth quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company's stock worth $131,000 after buying an additional 2,542 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Evolent Health during the 1st quarter worth approximately $25,000.

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.