Evolent Health (NYSE:EVH) Coverage Initiated by Analysts at Citigroup

Citigroup initiated coverage on shares of Evolent Health (NYSE:EVH) in a report published on Monday, Marketbeat reports. The firm issued a buy rating and a $40.00 price objective on the technology company’s stock.

A number of other analysts have also recently issued reports on the company. Canaccord Genuity Group lowered their target price on Evolent Health from $45.00 to $44.00 and set a buy rating for the company in a research note on Thursday, March 28th. William Blair reissued an outperform rating on shares of Evolent Health in a research note on Tuesday, January 9th. Oppenheimer began coverage on shares of Evolent Health in a research note on Friday, March 1st. They set an outperform rating and a $45.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Evolent Health from $53.00 to $52.00 and set an overweight rating for the company in a research note on Friday, March 15th. Finally, Barclays began coverage on shares of Evolent Health in a research note on Wednesday, January 3rd. They set an overweight rating and a $39.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Evolent Health has a consensus rating of Moderate Buy and an average price target of $42.70.

Evolent Health Stock Performance

Shares of NYSE:EVH opened at $29.86 on Monday. The firm’s 50 day simple moving average is $31.93 and its 200 day simple moving average is $30.26. Evolent Health has a fifty-two week low of $23.33 and a fifty-two week high of $36.70. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -23.51 and a beta of 1.54.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, February 22nd. The technology company reported $0.15 earnings per share (EPS) 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 business had revenue of $556.06 million during the quarter, compared to analysts’ expectations of $541.87 million. As a group, sell-side analysts forecast that Evolent Health will post 0.87 earnings per share for the current year.

Institutional Investors Weigh In On Evolent Health

Large investors have recently made changes to their positions in the stock. HB Wealth Management LLC acquired a new stake in shares of Evolent Health in the 4th quarter valued at approximately $1,425,000. Swiss National Bank boosted its holdings in shares of Evolent Health by 8.1% in the 3rd quarter. Swiss National Bank now owns 235,300 shares of the technology company’s stock valued at $6,407,000 after buying an additional 17,700 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Evolent Health by 11.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,239,198 shares of the technology company’s stock valued at $115,433,000 after buying an additional 449,664 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Evolent Health by 7.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 847,768 shares of the technology company’s stock valued at $23,085,000 after buying an additional 59,376 shares during the last quarter. Finally, Cetera Trust Company N.A acquired a new stake in Evolent Health during the 4th quarter valued at $303,000.

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.