Evolent Health, Inc (NYSE:EVH) Stock Has Consensus Target Price of $5.96 According to Analysts

Evolent Health, Inc (NYSE:EVH) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $5.96.

Several research firms have weighed in on EVH. Canaccord Genuity Group lowered their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, August 10th. TD Cowen upped their target price on shares of Evolent Health from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Citigroup upgraded shares of Evolent Health from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $6.75 to $6.00 in a research report on Monday, August 10th. Weiss Ratings cut shares of Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Evolent Health from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th.

Evolent Health Trading Down 3.3%

Shares of EVH stock opened at $4.30 on Friday. The firm has a fifty day moving average of $4.18 and a 200-day moving average of $3.87. The stock has a market cap of $486.38 million, a price-to-earnings ratio of -0.94 and a beta of 1.03. Evolent Health has a 52-week low of $2.10 and a 52-week high of $6.89. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.24 and a current ratio of 1.24.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, August 6th. The technology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%. The business had revenue of $484.50 million during the quarter, compared to the consensus estimate of $597.70 million. During the same quarter last year, the company earned ($0.10) EPS. Evolent Health’s revenue was up 46.9% on a year-over-year basis. On average, equities research analysts forecast that Evolent Health will post -0.25 earnings per share for the current fiscal year.

Insider Transactions at Evolent Health

In other Evolent Health news, President Daniel Mccarthy sold 65,892 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $5.00, for a total value of $329,460.00. Following the transaction, the president directly owned 655,133 shares in the company, valued at approximately $3,275,665. This trade represents a 9.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.48% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Several large investors have recently made changes to their positions in EVH. Public Employees Retirement System of Ohio acquired a new position in Evolent Health during the 2nd quarter valued at about $760,000. First Trust Advisors LP bought a new position in shares of Evolent Health in the 1st quarter valued at about $488,000. WINTON GROUP Ltd boosted its stake in shares of Evolent Health by 29.6% in the 2nd quarter. WINTON GROUP Ltd now owns 26,700 shares of the technology company’s stock valued at $145,000 after purchasing an additional 6,100 shares during the last quarter. Corient Private Wealth LP boosted its stake in shares of Evolent Health by 447.4% in the 2nd quarter. Corient Private Wealth LP now owns 81,594 shares of the technology company’s stock valued at $442,000 after purchasing an additional 66,687 shares during the last quarter. Finally, HB Wealth Management LLC grew its position in shares of Evolent Health by 6.8% during the 2nd quarter. HB Wealth Management LLC now owns 35,842 shares of the technology company’s stock worth $194,000 after buying an additional 2,282 shares during the period.

Evolent Health Company Profile

Evolent Health, Inc (NYSE: EVH) is a healthcare services and technology company that helps health plans and healthcare providers transition to value-based care. Its platform is designed to support the management of clinical programs, improve patient outcomes and coordinate care while helping customers manage healthcare costs.

The company provides specialty and total-cost-of-care solutions across areas such as cardiology, oncology, musculoskeletal care, radiology and other complex conditions.