Evolent Health, Inc. (NYSE:EVH) Given Consensus Recommendation of “Buy” by Analysts

Shares of Evolent Health, Inc. (NYSE:EVH) have earned an average rating of “Buy” from the thirteen analysts that are presently covering the firm, Marketbeat reports. Thirteen equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have covered the stock in the last year is $39.91.

A number of equities research analysts have commented on the company. KeyCorp initiated coverage on Evolent Health in a research note on Friday. They issued an “overweight” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. raised their price target on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Truist Financial reissued a “buy” rating and set a $33.00 price objective on shares of Evolent Health in a report on Tuesday, August 27th. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of Evolent Health in a report on Tuesday, July 30th. Finally, JMP Securities dropped their price objective on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th.

Insider Buying and Selling

In related news, President Daniel Joseph Mccarthy sold 23,693 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total transaction of $731,876.77. Following the sale, the president now directly owns 198,809 shares in the company, valued at approximately $6,141,210.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the completion of the transaction, the chief executive officer now owns 411,924 shares of the company’s stock, valued at approximately $12,357,720. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the completion of the sale, the president now directly owns 198,809 shares in the company, valued at $6,141,210.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 307,291 shares of company stock valued at $9,290,385. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in Evolent Health in the second quarter worth $32,000. GAMMA Investing LLC lifted its position in Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after buying an additional 1,556 shares during the last quarter. Headlands Technologies LLC bought a new position in Evolent Health during the first quarter valued at approximately $46,000. Canada Pension Plan Investment Board purchased a new position in shares of Evolent Health during the second quarter worth approximately $61,000. Finally, NBC Securities Inc. lifted its holdings in shares of Evolent Health by 16.6% in the 1st quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after acquiring an additional 350 shares during the last quarter.

Evolent Health Trading Up 1.0 %

NYSE:EVH opened at $27.08 on Friday. Evolent Health has a 52 week low of $17.98 and a 52 week high of $35.00. The firm’s fifty day moving average is $28.41 and its 200-day moving average is $25.86. The firm has a market cap of $3.15 billion, a P/E ratio of -28.81 and a beta of 1.56. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The firm had revenue of $647.10 million during the quarter, compared to analyst estimates of $636.46 million. During the same period last year, the company posted $0.06 EPS. The business’s quarterly revenue was up 37.9% on a year-over-year basis. Equities analysts expect that Evolent Health will post 0.86 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.