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

Shares of Evolent Health, Inc (NYSE:EVH) have been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $6.0385.

Several analysts recently issued reports on EVH shares. KeyCorp cut Evolent Health from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, February 25th. Citizens Jmp cut their target price on Evolent Health from $11.00 to $10.00 and set a “market outperform” rating for the company in a research report on Tuesday, January 6th. UBS Group cut their target price on Evolent Health from $10.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Oppenheimer cut their target price on Evolent Health from $12.00 to $6.00 and set an “outperform” rating for the company in a research report on Monday, March 2nd. Finally, BTIG Research cut their target price on Evolent Health from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th.

Institutional Trading of Evolent Health

Several institutional investors have recently made changes to their positions in EVH. Durable Capital Partners LP purchased a new stake in shares of Evolent Health during the second quarter worth about $72,326,000. Rubicon Founders LLC bought a new stake in Evolent Health in the 3rd quarter worth approximately $49,204,000. 8 Knots Management LLC bought a new stake in Evolent Health in the 2nd quarter worth approximately $32,802,000. Eventide Asset Management LLC increased its stake in Evolent Health by 54.0% in the 3rd quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company’s stock worth $53,246,000 after acquiring an additional 2,205,659 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Evolent Health by 162.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock worth $26,861,000 after acquiring an additional 1,754,520 shares during the last quarter.

Evolent Health Stock Performance

Shares of EVH opened at $2.51 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 2.34. The business has a 50-day simple moving average of $2.75 and a two-hundred day simple moving average of $4.29. The stock has a market cap of $280.22 million, a price-to-earnings ratio of -0.49 and a beta of 0.37. Evolent Health has a 52 week low of $2.10 and a 52 week high of $12.06.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Tuesday, February 24th. The technology company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Evolent Health had a positive return on equity of 1.49% and a negative net margin of 28.49%.The business had revenue of $468.72 million during the quarter, compared to analysts’ expectations of $468.48 million. During the same quarter in the prior year, the business posted ($0.02) earnings per share. The business’s quarterly revenue was down 27.5% on a year-over-year basis. On average, analysts expect that Evolent Health will post 0.08 EPS for the current year.

About Evolent Health

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.