Evolent Health, Inc (NYSE:EVH) Given Average Recommendation of “Moderate Buy” by Brokerages

Evolent Health, Inc (NYSE:EVH) has earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $10.2308.

Several research analysts have recently commented on EVH shares. BTIG Research reduced their price target on Evolent Health from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Piper Sandler set a $6.00 price objective on shares of Evolent Health in a research report on Tuesday, December 2nd. Truist Financial decreased their target price on shares of Evolent Health from $16.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 10th. JPMorgan Chase & Co. dropped their price target on shares of Evolent Health from $13.00 to $7.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Finally, Oppenheimer cut their price target on shares of Evolent Health from $18.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th.

Insider Buying and Selling

In other Evolent Health news, Director Brendan B. Springstubb purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were acquired at an average price of $3.82 per share, with a total value of $38,200.00. Following the purchase, the director directly owned 58,821 shares in the company, valued at approximately $224,696.22. This trade represents a 20.48% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of Evolent Health

A number of hedge funds and other institutional investors have recently modified their holdings of EVH. Nisa Investment Advisors LLC lifted its position in Evolent Health by 88.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after buying an additional 1,194 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Evolent Health by 4,000.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock valued at $35,000 after acquiring an additional 4,000 shares during the period. Strs Ohio acquired a new position in shares of Evolent Health in the 1st quarter worth approximately $47,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Evolent Health during the 3rd quarter worth approximately $51,000. Finally, State of Alaska Department of Revenue acquired a new stake in Evolent Health in the 3rd quarter valued at approximately $56,000.

Evolent Health Stock Performance

EVH opened at $3.24 on Friday. Evolent Health has a twelve month low of $3.17 and a twelve month high of $12.06. The firm has a market capitalization of $361.03 million, a PE ratio of -2.05 and a beta of 0.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.25. The firm’s 50-day moving average price is $3.97 and its 200 day moving average price is $6.83.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, November 6th. The technology company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). The business had revenue of $479.53 million during the quarter, compared to analysts’ expectations of $473.74 million. Evolent Health had a positive return on equity of 1.79% and a negative net margin of 6.24%.The company’s revenue for the quarter was down 22.8% compared to the same quarter last year. During the same period last year, the business earned ($0.27) earnings per share. As a group, sell-side analysts expect that Evolent Health will post 0.08 EPS for the current fiscal year.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.