Analysts Set Evolent Health, Inc. (NYSE:EVH) PT at $42.80

Shares of Evolent Health, Inc. (NYSE:EVH) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $42.70.

EVH has been the subject of several recent analyst reports. JMP Securities increased their target price on Evolent Health from $37.00 to $38.00 and gave the company a “market outperform” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. dropped their target price on Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Friday, March 15th. Canaccord Genuity Group dropped their target price on Evolent Health from $45.00 to $44.00 and set a “buy” rating for the company in a report on Thursday. William Blair reaffirmed an “outperform” rating on shares of Evolent Health in a report on Tuesday, January 9th. Finally, Oppenheimer initiated coverage on Evolent Health in a report on Friday, March 1st. They set an “outperform” rating and a $45.00 price target for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HB Wealth Management LLC acquired a new stake in shares of Evolent Health in the 4th quarter valued at about $1,425,000. Swiss National Bank increased its position in shares of Evolent Health by 8.1% in the third quarter. Swiss National Bank now owns 235,300 shares of the technology company’s stock valued at $6,407,000 after acquiring an additional 17,700 shares during the last quarter. Bellevue Group AG increased its position in Evolent Health by 57.4% during the second quarter. Bellevue Group AG now owns 3,448,322 shares of the technology company’s stock worth $104,484,000 after buying an additional 1,257,175 shares during the last quarter. Wellington Management Group LLP increased its position in Evolent Health by 11.9% during the third quarter. Wellington Management Group LLP now owns 4,239,198 shares of the technology company’s stock worth $115,433,000 after buying an additional 449,664 shares during the last quarter. Finally, Kennedy Capital Management LLC boosted its holdings in shares of Evolent Health by 499.9% during the second quarter. Kennedy Capital Management LLC now owns 340,186 shares of the technology company’s stock worth $10,308,000 after acquiring an additional 283,482 shares during the period.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $32.79 on Tuesday. Evolent Health has a one year low of $23.33 and a one year high of $36.70. The business’s 50-day moving average price is $31.88 and its two-hundred day moving average price is $29.74. The company has a market capitalization of $3.78 billion, a P/E ratio of -25.82 and a beta of 1.54. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.13. Evolent Health had a positive return on equity of 6.60% and a negative net margin of 5.76%. The company had revenue of $556.06 million during the quarter, compared to analysts’ expectations of $541.87 million. Analysts anticipate that Evolent Health will post 0.87 earnings per share for the current fiscal year.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.