Evolent Health (NYSE:EVH) PT Raised to $45.00

Evolent Health (NYSE:EVHGet Rating) had its price target boosted by Canaccord Genuity Group from $40.00 to $45.00 in a note issued to investors on Monday, The Fly reports. Canaccord Genuity Group’s price target would suggest a potential upside of 57.73% from the stock’s previous close.

Several other research analysts have also weighed in on the company. BTIG Research increased their target price on Evolent Health from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, March 25th. StockNews.com began coverage on Evolent Health in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Piper Sandler cut their price objective on Evolent Health from $36.00 to $32.00 in a research report on Thursday, February 24th. Guggenheim began coverage on Evolent Health in a research report on Tuesday, March 29th. They issued a “buy” rating and a $43.00 price objective on the stock. Finally, Zacks Investment Research raised Evolent Health from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Wednesday, May 4th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Evolent Health currently has a consensus rating of “Buy” and an average price target of $39.86.

Shares of EVH opened at $28.53 on Monday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $2.59 billion, a P/E ratio of -75.08 and a beta of 2.07. The stock’s fifty day simple moving average is $29.69 and its 200 day simple moving average is $27.39. Evolent Health has a twelve month low of $17.62 and a twelve month high of $34.60.

Evolent Health (NYSE:EVHGet Rating) last issued its earnings results on Wednesday, May 4th. The technology company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.20. The business had revenue of $297.10 million for the quarter, compared to analyst estimates of $286.81 million. Evolent Health had a negative return on equity of 0.85% and a negative net margin of 3.35%. The business’s quarterly revenue was up 37.7% on a year-over-year basis. During the same period last year, the company posted ($0.06) EPS. Sell-side analysts predict that Evolent Health will post -0.21 earnings per share for the current year.

In related news, Director Frank J. Williams sold 20,000 shares of Evolent Health stock in a transaction dated Thursday, February 17th. The stock was sold at an average price of $23.70, for a total value of $474,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Steve Tutewohl sold 1,918 shares of Evolent Health stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $27.30, for a total value of $52,361.40. The disclosure for this sale can be found here. Insiders have sold 27,306 shares of company stock valued at $674,046 over the last 90 days. Insiders own 4.20% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Vigilant Capital Management LLC acquired a new position in Evolent Health in the first quarter valued at approximately $32,000. Manchester Capital Management LLC acquired a new position in Evolent Health in the third quarter valued at approximately $32,000. Nisa Investment Advisors LLC raised its holdings in shares of Evolent Health by 67.9% during the first quarter. Nisa Investment Advisors LLC now owns 2,250 shares of the technology company’s stock valued at $73,000 after buying an additional 910 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Evolent Health during the fourth quarter valued at approximately $72,000. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Evolent Health by 444.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 3,226 shares of the technology company’s stock valued at $100,000 after buying an additional 2,634 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Evolent Health Company Profile (Get Rating)

Evolent Health, Inc, a healthcare company, through its subsidiary, Evolent Health LLC, provides clinical and administrative solutions to payers and providers in the United States. It operates in two segments, Evolent Health Services and Clinical Solutions. The Evolent Health Services segment provides an integrated administrative and clinical platform for health plan administration and population health management.

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