Evolent Health (NYSE:EVH) Stock Price Up 5.2% – Still a Buy?

Evolent Health, Inc. (NYSE:EVH) shares rose 5.2% during trading on Tuesday . The stock traded as high as $12.87 and last traded at $12.84. Approximately 1,052,131 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 1,790,988 shares. The stock had previously closed at $12.21.

Wall Street Analysts Forecast Growth

EVH has been the topic of several research reports. Barclays cut their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Truist Financial restated a “buy” rating and set a $33.00 price objective on shares of Evolent Health in a research note on Tuesday, August 27th. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Evolent Health in a report on Tuesday, November 12th. KeyCorp initiated coverage on Evolent Health in a research note on Friday, October 11th. They issued an “overweight” rating and a $35.00 price target for the company. Finally, Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $38.00 to $16.00 in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Evolent Health presently has an average rating of “Buy” and an average target price of $25.90.

Evolent Health Price Performance

The company’s 50-day simple moving average is $22.55 and its 200-day simple moving average is $23.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -14.22 and a beta of 1.58.

Institutional Trading of Evolent Health

Several institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Evolent Health by 3.2% in the 2nd quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock valued at $298,000 after buying an additional 480 shares in the last quarter. SeaCrest Wealth Management LLC grew its holdings in Evolent Health by 6.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock valued at $195,000 after buying an additional 600 shares in the last quarter. Arizona State Retirement System grew its holdings in Evolent Health by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 29,083 shares of the technology company’s stock valued at $556,000 after buying an additional 649 shares in the last quarter. Covestor Ltd grew its holdings in Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after buying an additional 826 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after buying an additional 1,556 shares in 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.