Evolent Health (NYSE:EVH) Hits New 12-Month High on Analyst Upgrade

Evolent Health, Inc. (NYSE:EVHGet Rating) shares reached a new 52-week high during trading on Wednesday after BTIG Research raised their price target on the stock from $45.00 to $50.00. BTIG Research currently has a maintains rating on the stock. Evolent Health traded as high as $39.20 and last traded at $36.65, with a volume of 15893 shares traded. The stock had previously closed at $35.21.

EVH has been the topic of several other research reports. Cowen lifted their price target on 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 lifted their price target on Evolent Health from $40.00 to $45.00 in a research report on Monday, May 9th. Piper Sandler lifted their target price on Evolent Health from $35.00 to $40.00 and gave the company a “maintains” rating in a research note on Wednesday. Cowen lifted their target price on Evolent Health to $52.00 in a research note on Monday, July 25th. Finally, Royal Bank of Canada reiterated an “initiates” rating on shares of Evolent Health in a research note on Friday, July 29th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Evolent Health currently has an average rating of “Moderate Buy” and an average target price of $45.22.

Institutional Trading of Evolent Health

Institutional investors have recently modified their holdings of the business. Vigilant Capital Management LLC purchased a new stake in shares of Evolent Health in the first quarter valued at approximately $32,000. Point72 Hong Kong Ltd purchased a new stake in shares of Evolent Health in the fourth quarter valued at approximately $72,000. Nisa Investment Advisors LLC boosted its stake in shares of Evolent Health by 67.9% in the first quarter. Nisa Investment Advisors LLC now owns 2,250 shares of the technology company’s stock valued at $73,000 after buying an additional 910 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of Evolent Health by 38.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 4,055 shares of the technology company’s stock valued at $113,000 after buying an additional 1,135 shares in the last quarter. Finally, AdvisorShares Investments LLC purchased a new stake in shares of Evolent Health in the first quarter valued at approximately $192,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Evolent Health Stock Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market capitalization of $3.34 billion, a PE ratio of -96.05 and a beta of 1.86. The stock has a 50 day moving average of $30.99 and a two-hundred day moving average of $28.72.

Evolent Health (NYSE:EVHGet Rating) last posted its earnings results on Wednesday, May 4th. The technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.14. The company had revenue of $297.10 million for the quarter, compared to the consensus estimate of $286.81 million. Evolent Health had a negative return on equity of 0.86% and a negative net margin of 3.35%. Evolent Health’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) earnings per share. Research analysts expect that Evolent Health, Inc. will post -0.04 EPS for the current fiscal year.

About Evolent Health

(Get Rating)

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.

Read More

Want More Great Investing Ideas?

Receive News & Ratings for Evolent Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evolent Health and related companies with MarketBeat.com's FREE daily email newsletter.