Evolent Health’s (EVH) “Initiates” Rating Reaffirmed at Royal Bank of Canada

Posted by MarketBeat News on Aug 2nd, 2022

Royal Bank of Canada reissued their initiates rating on shares of Evolent Health (NYSE:EVH – Get Rating) in a research report released on Friday morning, Benzinga reports.

Several other brokerages have also recently commented on EVH. Cowen raised their target price on shares of Evolent Health to $52.00 in a report on Monday, July 25th. Cowen increased their price target on shares of Evolent Health from $48.00 to $50.00 and gave the stock an outperform rating in a research report on Tuesday, June 21st. Canaccord Genuity Group increased their price target on shares of Evolent Health from $40.00 to $45.00 in a research report on Monday, May 9th. StockNews.com initiated coverage on shares of Evolent Health in a research report on Thursday, March 31st. They issued a hold rating for the company. Finally, Piper Sandler reduced their price target on shares of Evolent Health from $37.00 to $35.00 and set a na rating for the company in a research report on Tuesday, May 17th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $43.56.

Evolent Health Stock Performance

Shares of EVH opened at $34.79 on Friday. Evolent Health has a one year low of $21.36 and a one year high of $35.45. The company has a 50-day moving average of $30.70 and a two-hundred day moving average of $28.62. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -91.55 and a beta of 1.86. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.21 and a quick ratio of 1.21.

Evolent Health (NYSE:EVH – Get Rating) last announced its earnings results on Wednesday, May 4th. The technology company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.14. Evolent Health had a negative net margin of 3.35% and a negative return on equity of 0.86%. The company had revenue of $297.10 million during the quarter, compared to analysts’ expectations of $286.81 million. During the same period last year, the company posted ($0.06) earnings per share. The business’s revenue for the quarter was up 37.7% on a year-over-year basis. On average, equities research analysts expect that Evolent Health will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Evolent Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vigilant Capital Management LLC acquired a new position in Evolent Health during the first quarter valued at approximately $32,000. Point72 Hong Kong Ltd acquired a new position in Evolent Health during the fourth quarter valued at approximately $72,000. Nisa Investment Advisors LLC grew its holdings in Evolent Health by 67.9% during the first quarter. Nisa Investment Advisors LLC now owns 2,250 shares of the technology company’s stock valued at $73,000 after purchasing an additional 910 shares during the last quarter. Advisor Group Holdings Inc. grew its holdings in Evolent Health by 38.9% during the fourth quarter. Advisor Group Holdings Inc. now owns 4,055 shares of the technology company’s stock valued at $113,000 after purchasing an additional 1,135 shares during the last quarter. Finally, AdvisorShares Investments LLC acquired a new position in Evolent Health during the first quarter valued at approximately $192,000. Institutional investors own 93.27% of the company’s stock.

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.