Cowen Boosts Evolent Health (NYSE:EVH) Price Target to $57.00

Evolent Health (NYSE:EVHGet Rating) had its target price increased by equities research analysts at Cowen from $52.00 to $57.00 in a report issued on Friday, The Fly reports. The firm presently has an “outperform” rating on the technology company’s stock. Cowen’s price target would suggest a potential upside of 108.33% from the stock’s previous close.

EVH has been the topic of several other reports. Canaccord Genuity Group lowered their price target on shares of Evolent Health from $48.00 to $44.00 in a report on Thursday, November 3rd. Truist Financial lowered their price target on shares of Evolent Health to $32.00 in a report on Thursday. Guggenheim increased their target price on shares of Evolent Health to $45.00 in a research report on Monday, August 15th. Royal Bank of Canada increased their target price on shares of Evolent Health from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd. Finally, StockNews.com lowered shares of Evolent Health from a “hold” rating to a “sell” rating in a research report on Friday, November 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.70.

Evolent Health Stock Up 14.7 %

Shares of EVH stock opened at $27.36 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50-day moving average is $31.89 and its 200-day moving average is $31.97. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -182.39 and a beta of 1.60. Evolent Health has a 52-week low of $21.36 and a 52-week high of $39.78.

Evolent Health (NYSE:EVHGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The technology company reported $0.52 earnings per share for the quarter. The firm had revenue of $352.59 million for the quarter, compared to analysts’ expectations of $354.57 million. Evolent Health had a negative net margin of 1.11% and a positive return on equity of 8.83%. Sell-side analysts predict that Evolent Health will post 0.6 EPS for the current year.

Insider Buying and Selling

In related news, Director Frank J. Williams sold 110,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $29.32, for a total transaction of $3,225,200.00. Following the sale, the director now owns 626,479 shares in the company, valued at approximately $18,368,364.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Frank J. Williams sold 110,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $29.32, for a total transaction of $3,225,200.00. Following the sale, the director now owns 626,479 shares in the company, valued at approximately $18,368,364.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank J. Williams sold 50,000 shares of the stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $37.21, for a total transaction of $1,860,500.00. Following the sale, the director now owns 752,434 shares in the company, valued at approximately $27,998,069.14. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of Evolent Health

Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank acquired a new stake in Evolent Health in the first quarter valued at approximately $1,398,000. Blueshift Asset Management LLC acquired a new stake in Evolent Health in the first quarter valued at approximately $1,178,000. New York State Common Retirement Fund boosted its position in Evolent Health by 1.2% in the first quarter. New York State Common Retirement Fund now owns 92,651 shares of the technology company’s stock valued at $2,993,000 after buying an additional 1,055 shares in the last quarter. Arizona State Retirement System boosted its position in Evolent Health by 2.9% in the first quarter. Arizona State Retirement System now owns 24,169 shares of the technology company’s stock valued at $781,000 after buying an additional 681 shares in the last quarter. Finally, Summit Creek Advisors LLC boosted its position in Evolent Health by 5.1% in the first quarter. Summit Creek Advisors LLC now owns 445,698 shares of the technology company’s stock valued at $14,396,000 after buying an additional 21,746 shares in the last quarter. Institutional investors and hedge funds own 96.81% 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.

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