Evolent Health, Inc. (NYSE:EVH) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Evolent Health, Inc. (NYSE:EVH – Get Rating) have earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $47.70.

Several equities analysts have issued reports on the stock. Truist Financial cut their price target on shares of Evolent Health to $32.00 in a report on Thursday, November 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $44.00 price objective on shares of Evolent Health in a research note on Thursday, February 23rd. StockNews.com started coverage on shares of Evolent Health in a research note on Thursday. They set a “sell” rating for the company. Piper Sandler lifted their price objective on shares of Evolent Health from $44.00 to $51.00 in a research note on Friday, January 6th. Finally, Cowen lifted their price objective on shares of Evolent Health from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Monday, January 30th.

Evolent Health Price Performance

NYSE EVH opened at $31.73 on Friday. The firm’s fifty day simple moving average is $31.96 and its two-hundred day simple moving average is $31.27. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.48. Evolent Health has a 12-month low of $21.83 and a 12-month high of $39.78. The firm has a market capitalization of $3.52 billion, a P/E ratio of -158.64 and a beta of 1.56.

Evolent Health (NYSE:EVH – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Evolent Health had a positive return on equity of 7.50% and a negative net margin of 1.42%. The firm had revenue of $382.43 million during the quarter, compared to analysts’ expectations of $373.68 million. Analysts forecast that Evolent Health will post 0.23 EPS for the current fiscal year.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, Director Frank J. Williams sold 110,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $34.98, for a total value of $3,847,800.00. Following the transaction, the director now directly owns 626,479 shares in the company, valued at approximately $21,914,235.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Seth Blackley sold 73,928 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $34.42, for a total value of $2,544,601.76. Following the transaction, the chief executive officer now directly owns 878,066 shares in the company, valued at approximately $30,223,031.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank J. Williams sold 110,000 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $34.98, for a total transaction of $3,847,800.00. Following the sale, the director now owns 626,479 shares in the company, valued at $21,914,235.42. The disclosure for this sale can be found here. Insiders have sold 384,284 shares of company stock worth $12,488,955 in the last ninety days. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Evolent Health

Hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its position in Evolent Health by 23.6% during the 4th quarter. Victory Capital Management Inc. now owns 1,269,984 shares of the technology company’s stock worth $35,661,000 after purchasing an additional 242,088 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Evolent Health by 110.1% in the fourth quarter. Voya Investment Management LLC now owns 548,085 shares of the technology company’s stock valued at $15,390,000 after purchasing an additional 287,187 shares during the period. Natixis purchased a new position in Evolent Health during the 4th quarter valued at about $635,000. Alliancebernstein L.P. increased its holdings in Evolent Health by 64.8% during the 4th quarter. Alliancebernstein L.P. now owns 149,670 shares of the technology company’s stock valued at $4,203,000 after acquiring an additional 58,870 shares in the last quarter. Finally, SeaCrest Wealth Management LLC grew its stake in Evolent Health by 4.4% in the 4th quarter. SeaCrest Wealth Management LLC now owns 9,500 shares of the technology company’s stock worth $267,000 after acquiring an additional 400 shares during the period. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Evolent Health Company Profile

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Evolent Health, Inc engages in the provision of healthcare delivery and payment services. It deals with population health management, health plan and third party administration, network performance and pharmacy benefit management, risk adjustment, analytics and performance improvement, and technology and electronic medical record integration.