Evolent Health, Inc. (NYSE:EVH) Receives $39.91 Average Price Target from Analysts

Shares of Evolent Health, Inc. (NYSE:EVH) have been given an average recommendation of “Buy” by the twelve research firms that are covering the stock, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $39.30.

A number of equities analysts have recently commented on EVH shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Evolent Health in a report on Tuesday, October 8th. Stephens restated an “overweight” rating and issued a $42.00 target price on shares of Evolent Health in a research note on Tuesday, July 30th. 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 report on Monday, August 19th. Truist Financial restated a “buy” rating and issued a $33.00 price objective on shares of Evolent Health in a research report on Tuesday, August 27th. Finally, KeyCorp started coverage on shares of Evolent Health in a research note on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective for the company.

Insider Transactions at Evolent Health

In other news, General Counsel Jonathan Weinberg sold 42,140 shares of Evolent Health stock in a transaction on Thursday, August 22nd. The shares were 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 of the company’s stock, valued at approximately $5,211,242.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Emily Ann Rafferty sold 8,861 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $265,830.00. Following the transaction, the chief operating officer now directly owns 63,408 shares in the company, valued at approximately $1,902,240. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,314,768.00. Following the completion of the sale, the general counsel now owns 167,027 shares of the company’s stock, valued at $5,211,242.40. The trade was 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 quarter. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Evolent Health by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock valued at $357,905,000 after purchasing an additional 93,739 shares in the last quarter. Wellington Management Group LLP boosted its position in Evolent Health by 96.1% during the fourth quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock valued at $274,584,000 after buying an additional 4,073,959 shares during the period. RA Capital Management L.P. grew its stake in shares of Evolent Health by 125.0% during the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock valued at $188,088,000 after buying an additional 3,187,000 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Evolent Health by 35.2% during the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after buying an additional 1,308,376 shares during the last quarter. Finally, Engaged Capital LLC increased its holdings in shares of Evolent Health by 26.1% in the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after buying an additional 850,000 shares during the period.

Evolent Health Trading Down 4.1 %

Shares of EVH opened at $23.94 on Friday. The firm has a market cap of $2.78 billion, a P/E ratio of -19.15 and a beta of 1.56. Evolent Health has a fifty-two week low of $17.98 and a fifty-two week high of $35.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. The business has a 50-day moving average of $28.77 and a 200 day moving average of $25.63.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results 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 company had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The company’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. As a group, research analysts forecast that Evolent Health will post 0.86 EPS for the current year.

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.