Evolent Health (NYSE:EVH) Coverage Initiated at KeyCorp

Equities researchers at KeyCorp initiated coverage on shares of Evolent Health (NYSE:EVH) in a research note issued on Friday, MarketBeat.com reports. The firm set an “overweight” rating and a $35.00 price target on the technology company’s stock. KeyCorp’s price objective would suggest a potential upside of 29.34% from the company’s previous close.

A number of other equities research analysts have also commented on EVH. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price objective on shares of Evolent Health in a report on Tuesday, October 8th. Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of Evolent Health in a report on Tuesday, July 30th. JMP Securities reduced their price objective on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. Truist Financial reissued a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. upped their price target on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $39.91.

Evolent Health Stock Up 1.0 %

Shares of EVH opened at $27.06 on Friday. The company has a market capitalization of $3.14 billion, a P/E ratio of -21.65 and a beta of 1.56. Evolent Health has a one year low of $17.98 and a one year high of $35.00. The business’s 50 day simple moving average is $28.41 and its 200-day simple moving average is $25.82. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.09. The firm had revenue of $647.10 million during the quarter, compared to the consensus estimate of $636.46 million. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The business’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. As a group, sell-side analysts predict that Evolent Health will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Evolent Health news, President Daniel Joseph Mccarthy sold 23,693 shares of the company’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 value of $731,876.77. Following the completion of the sale, the president now owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Evolent Health news, President Daniel Joseph Mccarthy sold 23,693 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the sale, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 307,291 shares of company stock valued at $9,290,385 in the last 90 days. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new stake in shares of Evolent Health during the first quarter worth $46,000. GAMMA Investing LLC raised its stake in shares of Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,556 shares during the period. Quarry LP bought a new stake in shares of Evolent Health in the second quarter valued at about $32,000. NBC Securities Inc. boosted its position in shares of Evolent Health by 16.6% during the first quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after buying an additional 350 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in shares of Evolent Health during the first quarter worth about $88,000.

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.