Evolent Health (NYSE:EVH) PT Raised to $57.00

Evolent Health (NYSE:EVHGet Rating) had its target price boosted by equities research analysts at Cowen from $52.00 to $57.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Cowen’s price objective indicates a potential upside of 108.33% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Guggenheim upped their target price on shares of Evolent Health to $45.00 in a research report on Monday, August 15th. BTIG Research dropped their target price on shares of Evolent Health from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, October 12th. Canaccord Genuity Group decreased their price target on shares of Evolent Health from $55.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 12th. Cowen boosted their price target on shares of Evolent Health to $52.00 in a report on Monday, July 25th. Finally, Truist Financial decreased their price target on shares of Evolent Health to $32.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.70.

Evolent Health Stock Performance

EVH stock opened at $27.36 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50 day moving average price of $31.89 and a 200 day moving average price of $31.97. Evolent Health has a fifty-two week low of $21.36 and a fifty-two week high of $39.78. The stock has a market capitalization of $2.77 billion, a PE ratio of -182.39 and a beta of 1.60.

Evolent Health (NYSE:EVHGet Rating) last issued its earnings results on Wednesday, November 2nd. The technology company reported $0.52 EPS for the quarter. The company had revenue of $352.59 million during the quarter, compared to analysts’ expectations of $354.57 million. Evolent Health had a negative net margin of 1.11% and a positive return on equity of 8.83%. Analysts forecast that Evolent Health will post 0.6 EPS for the current year.

Insider Buying and Selling

In related news, Director Frank J. Williams sold 110,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $29.32, for a total value of $3,225,200.00. Following the completion of the transaction, the director now directly owns 626,479 shares of the company’s stock, valued at approximately $18,368,364.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Frank J. Williams sold 110,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $29.32, for a total value of $3,225,200.00. Following the completion of the transaction, the director now directly owns 626,479 shares of the company’s stock, valued at approximately $18,368,364.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank J. Williams sold 50,000 shares of the company’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $37.21, for a total transaction of $1,860,500.00. Following the completion of the transaction, the director now directly owns 752,434 shares of the company’s stock, valued at $27,998,069.14. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Large investors have recently modified their holdings of the business. Altshuler Shaham Ltd acquired a new position in shares of Evolent Health during the 3rd quarter worth about $25,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Evolent Health during the 3rd quarter worth about $33,000. Captrust Financial Advisors boosted its stake in shares of Evolent Health by 254.4% during the 2nd quarter. Captrust Financial Advisors now owns 1,758 shares of the technology company’s stock worth $54,000 after buying an additional 1,262 shares during the last quarter. Ameliora Wealth Management Ltd. acquired a new position in shares of Evolent Health during the 3rd quarter worth about $61,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Evolent Health by 67.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,250 shares of the technology company’s stock worth $73,000 after buying an additional 910 shares during the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.

About Evolent Health

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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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