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

Shares of Evolent Health, Inc. (NYSE:EVH) have earned a consensus rating of “Buy” from the fourteen analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $17.71.

A number of research analysts have recently issued reports on the company. Royal Bank of Canada decreased their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. UBS Group decreased their price objective on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. BTIG Research dropped their target price on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Evolent Health in a research report on Friday, February 21st. Finally, Truist Financial lowered their price objective on Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd.

Evolent Health Trading Down 1.1 %

Shares of Evolent Health stock opened at $9.44 on Tuesday. The firm has a 50-day simple moving average of $10.17 and a two-hundred day simple moving average of $16.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. Evolent Health has a fifty-two week low of $8.35 and a fifty-two week high of $33.63. The company has a market cap of $1.10 billion, a P/E ratio of -11.51 and a beta of 1.49.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The business had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. As a group, equities analysts predict that Evolent Health will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, President Daniel Joseph Mccarthy acquired 11,040 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $9.01 per share, for a total transaction of $99,470.40. Following the completion of the acquisition, the president now owns 389,004 shares of the company’s stock, valued at approximately $3,504,926.04. The trade was a 2.92 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brendan B. Springstubb bought 5,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $8.75 per share, with a total value of $43,750.00. Following the purchase, the director now owns 11,842 shares of the company’s stock, valued at $103,617.50. The trade was a 73.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 74,000 shares of company stock worth $666,315 in the last three months. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Evolent Health

Several large investors have recently modified their holdings of the business. Pilgrim Partners Asia Pte Ltd purchased a new stake in Evolent Health in the 4th quarter valued at about $26,000. R Squared Ltd purchased a new stake in shares of Evolent Health in the 4th quarter valued at approximately $31,000. AlphaQuest LLC lifted its holdings in shares of Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after acquiring an additional 3,031 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after acquiring an additional 826 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Evolent Health by 90.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after purchasing an additional 2,358 shares during the period.

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.