Evolent Health, Inc. (NYSE:EVH) Receives $42.80 Average Target Price from Brokerages

Evolent Health, Inc. (NYSE:EVH) has earned an average rating of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $42.70.

A number of research analysts have recently weighed in on EVH shares. Canaccord Genuity Group lowered their price target on Evolent Health from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday. JMP Securities lifted their price target on Evolent Health from $37.00 to $38.00 and gave the company a “market outperform” rating in a report on Friday, February 23rd. William Blair restated an “outperform” rating on shares of Evolent Health in a research note on Tuesday, January 9th. Oppenheimer initiated coverage on Evolent Health in a research note on Friday, March 1st. They issued an “outperform” rating and a $45.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on Evolent Health from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th.

Institutional Trading of Evolent Health

Institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. boosted its stake in Evolent Health by 12.7% during the 1st quarter. American Century Companies Inc. now owns 20,453 shares of the technology company’s stock valued at $661,000 after purchasing an additional 2,300 shares during the period. HighTower Advisors LLC bought a new stake in Evolent Health during the 1st quarter valued at approximately $296,000. MetLife Investment Management LLC boosted its stake in Evolent Health by 52.2% during the 1st quarter. MetLife Investment Management LLC now owns 44,172 shares of the technology company’s stock valued at $1,427,000 after purchasing an additional 15,143 shares during the period. BlackRock Inc. boosted its stake in Evolent Health by 4.9% during the 1st quarter. BlackRock Inc. now owns 6,180,992 shares of the technology company’s stock valued at $199,644,000 after purchasing an additional 291,029 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Evolent Health by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 7,657,874 shares of the technology company’s stock valued at $247,350,000 after purchasing an additional 111,882 shares during the period.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $32.79 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -25.82 and a beta of 1.54. The stock’s fifty day simple moving average is $31.88 and its 200 day simple moving average is $29.74. Evolent Health has a 52-week low of $23.33 and a 52-week high of $36.70.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, February 22nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.13. Evolent Health had a positive return on equity of 6.60% and a negative net margin of 5.76%. The business had revenue of $556.06 million for the quarter, compared to analysts’ expectations of $541.87 million. As a group, sell-side analysts forecast that Evolent Health will post 0.87 earnings per share for the current fiscal 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.