Evolent Health (NYSE:EVH) Stock Price Up 4.1%

Shares of Evolent Health, Inc. (NYSE:EVH) traded up 4.1% during mid-day trading on Tuesday . The company traded as high as $19.17 and last traded at $19.17. 755,582 shares were traded during trading, a decline of 37% from the average session volume of 1,194,008 shares. The stock had previously closed at $18.41.

Analyst Ratings Changes

Several research firms have recently weighed in on EVH. JMP Securities reduced their price objective on Evolent Health from $38.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Friday, May 10th. JPMorgan Chase & Co. dropped their price objective on shares of Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Citigroup initiated coverage on shares of Evolent Health in a report on Monday, April 22nd. They set a “buy” rating and a $40.00 target price on the stock. Finally, Canaccord Genuity Group decreased their price target on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Evolent Health currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Evolent Health Price Performance

The business’s 50-day simple moving average is $23.35 and its two-hundred day simple moving average is $28.72. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, May 9th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. The business had revenue of $639.65 million for the quarter, compared to analysts’ expectations of $601.60 million. As a group, sell-side analysts expect that Evolent Health, Inc. will post 0.9 earnings per share for the current fiscal year.

Institutional Trading of Evolent Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Evolent Health by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock worth $357,905,000 after purchasing an additional 93,739 shares during the last quarter. Wellington Management Group LLP grew its stake in Evolent Health by 96.1% in the fourth quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock worth $274,584,000 after purchasing an additional 4,073,959 shares in the last quarter. RA Capital Management L.P. increased its holdings in Evolent Health by 125.0% in the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock valued at $188,088,000 after buying an additional 3,187,000 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Evolent Health by 81.3% in the fourth quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock valued at $88,355,000 after buying an additional 1,199,400 shares during the last quarter. Finally, Hood River Capital Management LLC raised its stake in Evolent Health by 6.6% during the first quarter. Hood River Capital Management LLC now owns 2,207,037 shares of the technology company’s stock valued at $72,369,000 after buying an additional 137,004 shares in the last quarter.

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.