Evolent Health (NYSE:EVH) Given New $33.00 Price Target at Citigroup

Evolent Health (NYSE:EVH) had its target price lowered by Citigroup from $35.00 to $33.00 in a research note issued to investors on Tuesday, Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

A number of other research firms also recently issued reports on EVH. JPMorgan Chase & Co. upped their price target on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of Evolent Health in a research report on Tuesday, October 8th. JMP Securities reduced their target price on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Truist Financial restated a “buy” rating and issued a $33.00 price objective on shares of Evolent Health in a report on Tuesday, August 27th. Finally, KeyCorp began coverage on Evolent Health in a report on Friday, October 11th. They set an “overweight” rating and a $35.00 target price for the company. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Evolent Health currently has a consensus rating of “Buy” and an average target price of $38.60.

Evolent Health Trading Up 0.5 %

EVH stock opened at $23.46 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50 day simple moving average of $27.80 and a two-hundred day simple moving average of $25.14. Evolent Health has a 1-year low of $17.98 and a 1-year high of $35.00. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -24.96 and a beta of 1.56.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The company had revenue of $647.10 million for the quarter, compared to the consensus estimate of $636.46 million. During the same period in the previous year, the firm posted $0.06 EPS. Evolent Health’s revenue for the quarter was up 37.9% compared to the same quarter last year. Research analysts anticipate that Evolent Health will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Evolent Health news, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the completion of the sale, the general counsel now directly owns 167,027 shares in the company, valued at approximately $5,211,242.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the completion of the sale, the general counsel now directly owns 167,027 shares in the company, valued at approximately $5,211,242.40. 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, COO Emily Ann Rafferty sold 8,861 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $265,830.00. Following the completion of the transaction, the chief operating officer now owns 63,408 shares in the company, valued at $1,902,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 307,291 shares of company stock worth $9,290,385 in the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Trading of Evolent Health

Large investors have recently bought and sold shares of the business. Covestor Ltd grew its position in shares of Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 826 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of Evolent Health in the 3rd quarter worth $208,000. Principal Financial Group Inc. raised its holdings in shares of Evolent Health by 268.0% during the 3rd quarter. Principal Financial Group Inc. now owns 57,382 shares of the technology company’s stock worth $1,623,000 after acquiring an additional 41,788 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Evolent Health by 140.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock valued at $11,946,000 after acquiring an additional 246,400 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Evolent Health by 180.3% in the 3rd quarter. US Bancorp DE now owns 6,579 shares of the technology company’s stock valued at $186,000 after purchasing an additional 4,232 shares during 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.