Citigroup Begins Coverage on Evolent Health (NYSE:EVH)

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

EVH has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their price target on Evolent Health from $53.00 to $52.00 and set an overweight rating for the company in a research report on Friday, March 15th. William Blair restated an outperform rating on shares of Evolent Health in a research report on Tuesday, January 9th. Canaccord Genuity Group reduced their price target on Evolent Health from $45.00 to $44.00 and set a buy rating for the company in a research report on Thursday, March 28th. Oppenheimer assumed coverage on Evolent Health in a research report on Friday, March 1st. They issued an outperform rating and a $45.00 price target for the company. Finally, Barclays assumed coverage on Evolent Health in a research note on Wednesday, January 3rd. They issued an overweight rating and a $39.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $42.70.

Evolent Health Stock Up 1.2 %

Evolent Health stock opened at $29.86 on Monday. The stock has a market cap of $3.45 billion, a PE ratio of -23.51 and a beta of 1.54. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Evolent Health has a one year low of $23.33 and a one year high of $36.70. The stock has a fifty day moving average of $31.93 and a 200 day moving average of $30.26.

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

Hedge Funds Weigh In On Evolent Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new position in Evolent Health during the fourth quarter valued at approximately $33,000. Signaturefd LLC boosted its stake in Evolent Health by 1,470.7% during the fourth quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock valued at $48,000 after buying an additional 1,353 shares during the last quarter. NBC Securities Inc. purchased a new stake in Evolent Health during the fourth quarter valued at approximately $69,000. Banque Cantonale Vaudoise purchased a new stake in Evolent Health during the first quarter valued at approximately $88,000. Finally, Nisa Investment Advisors LLC raised its position in Evolent Health by 389.3% during the third quarter. Nisa Investment Advisors LLC now owns 5,035 shares of the technology company’s stock valued at $137,000 after purchasing an additional 4,006 shares during the period.

Evolent Health Company Profile

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.