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

Evolent Health, Inc (NYSE:EVH) has earned an average rating of “Moderate Buy” from the seventeen analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $6.0385.

EVH has been the topic of a number of analyst reports. BTIG Research decreased their price target on Evolent Health from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Truist Financial cut their price objective on Evolent Health from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. TD Cowen restated a “buy” rating on shares of Evolent Health in a research report on Monday, March 2nd. Royal Bank Of Canada decreased their target price on shares of Evolent Health from $5.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evolent Health in a research note on Monday, December 29th.

Evolent Health Trading Down 5.7%

NYSE EVH opened at $2.59 on Friday. 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 stock has a market capitalization of $288.59 million, a P/E ratio of -0.50 and a beta of 0.24. Evolent Health has a 52-week low of $2.50 and a 52-week high of $12.06. The firm has a 50-day moving average price of $3.19 and a 200 day moving average price of $5.15.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Tuesday, February 24th. The technology company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $468.72 million for the quarter, compared to analyst estimates of $468.48 million. Evolent Health had a positive return on equity of 1.49% and a negative net margin of 28.49%.The firm’s revenue for the quarter was down 27.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.02) EPS. Equities research analysts expect that Evolent Health will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC lifted its position in shares of Evolent Health by 4,000.0% during 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 purchased a new stake in shares of Evolent Health during the 1st quarter worth approximately $47,000. Headlands Technologies LLC acquired a new stake in shares of Evolent Health in the 2nd quarter worth approximately $58,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Evolent Health in the 3rd quarter worth approximately $51,000. Finally, State of Alaska Department of Revenue purchased a new position in Evolent Health in the 3rd quarter valued at approximately $56,000.

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.