Needham & Company LLC Begins Coverage on Evolent Health (NYSE:EVH)

Needham & Company LLC assumed coverage on shares of Evolent Health (NYSE:EVH) in a research report released on Friday, MarketBeat reports. The firm issued a buy rating and a $15.00 price objective on the technology company’s stock.

A number of other brokerages have also recently issued reports on EVH. JPMorgan Chase & Co. lowered their target price on shares of Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. BTIG Research dropped their price objective on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. KeyCorp initiated 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. Citigroup lowered their price target on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of Evolent Health in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $23.92.

Evolent Health Price Performance

Shares of NYSE:EVH opened at $12.57 on Friday. The company has a 50-day moving average price of $12.91 and a two-hundred day moving average price of $21.03. Evolent Health has a twelve month low of $10.53 and a twelve month high of $35.00. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $1.47 billion, a PE ratio of -13.81 and a beta of 1.45.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EVH. Wellington Management Group LLP boosted its holdings in shares of Evolent Health by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after purchasing an additional 1,426,747 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Evolent Health by 35.2% in the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after buying an additional 1,308,376 shares in the last quarter. Engaged Capital LLC grew its position in Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after acquiring an additional 850,000 shares during the last quarter. Eventide Asset Management LLC raised its stake in shares of Evolent Health by 1.7% during the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock worth $107,580,000 after acquiring an additional 64,985 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Evolent Health by 1.0% in the 3rd quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock worth $77,074,000 after acquiring an additional 25,967 shares during the last quarter.

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.