Evolent Health, Inc (NYSE:EVH) Receives Consensus Rating of “Buy” from Brokerages

Evolent Health, Inc (NYSE:EVH) has been given an average recommendation of “Buy” by the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $17.79.

EVH has been the subject of several recent analyst reports. Truist Financial decreased their price target on Evolent Health from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of Evolent Health in a report on Tuesday, May 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. JMP Securities reissued a “market outperform” rating and set a $13.00 price target on shares of Evolent Health in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. dropped their price target on Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th.

Evolent Health Trading Up 1.7%

NYSE EVH opened at $8.63 on Thursday. Evolent Health has a 12 month low of $7.06 and a 12 month high of $33.63. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.69. The stock’s fifty day moving average price is $8.85 and its 200-day moving average price is $9.86. The stock has a market cap of $1.01 billion, a P/E ratio of -7.02 and a beta of 0.87.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). Evolent Health had a positive return on equity of 3.64% and a negative net margin of 4.54%. The firm had revenue of $483.65 million during the quarter, compared to analysts’ expectations of $460.15 million. During the same period last year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was down 24.4% on a year-over-year basis. As a group, equities analysts forecast that Evolent Health will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Evolent Health by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock valued at $125,676,000 after acquiring an additional 259,781 shares during the period. Eventide Asset Management LLC lifted its holdings in Evolent Health by 33.5% during the first quarter. Eventide Asset Management LLC now owns 6,077,191 shares of the technology company’s stock valued at $57,555,000 after purchasing an additional 1,524,885 shares in the last quarter. Engaged Capital LLC boosted its position in shares of Evolent Health by 35.5% in the fourth quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock worth $60,804,000 after purchasing an additional 1,415,300 shares during the period. Cadian Capital Management LP purchased a new stake in shares of Evolent Health in the fourth quarter worth $58,781,000. Finally, Granahan Investment Management LLC increased its stake in shares of Evolent Health by 5.2% in the fourth quarter. Granahan Investment Management LLC now owns 3,673,710 shares of the technology company’s stock worth $41,329,000 after purchasing an additional 181,893 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.