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

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

EVH has been the topic of a number of other reports. Cowen raised their price target on shares of Evolent Health from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. raised their price target on shares of Evolent Health from $37.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, August 19th. Canaccord Genuity Group dropped their price target on shares of Evolent Health from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, October 12th. Piper Sandler lowered their price objective on shares of Evolent Health from $40.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, November 4th. Finally, BTIG Research lowered their price objective on shares of Evolent Health from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, October 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.70.

Evolent Health Stock Up 14.7 %

Shares of NYSE EVH opened at $27.36 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50-day moving average price of $31.89 and a 200-day moving average price of $31.97. Evolent Health has a 1 year low of $21.36 and a 1 year high of $39.78. The stock has a market capitalization of $2.77 billion, a P/E ratio of -182.39 and a beta of 1.60.

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. Evolent Health had a negative net margin of 1.11% and a positive return on equity of 8.83%. The company had revenue of $352.59 million for the quarter, compared to analyst estimates of $354.57 million. On average, equities research analysts forecast that Evolent Health will post 0.6 EPS for the current fiscal year.

Insider Activity

In other news, Director Frank J. Williams sold 110,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $29.32, for a total value of $3,225,200.00. Following the sale, the director now owns 626,479 shares of the company’s stock, valued at $18,368,364.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Frank J. Williams sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $37.21, for a total transaction of $1,860,500.00. Following the completion of the transaction, the director now owns 752,434 shares of the company’s stock, valued at $27,998,069.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frank J. Williams sold 110,000 shares of the business’s 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 transaction, the director now directly owns 626,479 shares of the company’s stock, valued at approximately $18,368,364.28. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Hedge funds have recently bought and sold shares of the company. Comerica Bank purchased a new position in Evolent Health during the first quarter valued at approximately $1,398,000. Blueshift Asset Management LLC purchased a new position in Evolent Health during the first quarter valued at approximately $1,178,000. New York State Common Retirement Fund grew its stake in Evolent Health by 1.2% during 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 acquiring an additional 1,055 shares in the last quarter. Arizona State Retirement System grew its stake in Evolent Health by 2.9% during the first quarter. Arizona State Retirement System now owns 24,169 shares of the technology company’s stock valued at $781,000 after acquiring an additional 681 shares in the last quarter. Finally, Summit Creek Advisors LLC grew its stake in Evolent Health by 5.1% in the 1st quarter. Summit Creek Advisors LLC now owns 445,698 shares of the technology company’s stock worth $14,396,000 after buying an additional 21,746 shares in the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.

Evolent Health Company Profile

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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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