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

Shares of Evolent Health, Inc (NYSE:EVH) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $10.2308.

Several brokerages recently weighed in on EVH. Canaccord Genuity Group cut their target price on shares of Evolent Health from $16.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. JPMorgan Chase & Co. cut their price objective on Evolent Health from $13.00 to $7.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. BTIG Research decreased their target price on Evolent Health from $20.00 to $16.00 and set a “buy” rating for the company in a report on Friday, November 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Evolent Health in a research note on Monday, December 29th. Finally, Zacks Research raised Evolent Health from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th.

Evolent Health Price Performance

EVH opened at $3.24 on Friday. The stock’s 50-day moving average price is $3.97 and its 200 day moving average price is $6.83. Evolent Health has a 12-month low of $3.17 and a 12-month high of $12.06. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.25. The firm has a market cap of $361.03 million, a price-to-earnings ratio of -2.05 and a beta of 0.26.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, November 6th. The technology company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.05). The firm had revenue of $479.53 million during the quarter, compared to analyst estimates of $473.74 million. Evolent Health had a negative net margin of 6.24% and a positive return on equity of 1.79%. The business’s revenue was down 22.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.27) earnings per share. As a group, sell-side analysts expect that Evolent Health will post 0.08 earnings per share for the current year.

Insider Transactions at Evolent Health

In other news, Director Brendan B. Springstubb purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was bought at an average price of $3.82 per share, for a total transaction of $38,200.00. Following the completion of the purchase, the director directly owned 58,821 shares of the company’s stock, valued at $224,696.22. The trade was a 20.48% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Evolent Health

Hedge funds and other institutional investors have recently modified their holdings of the company. Durable Capital Partners LP acquired a new position in shares of Evolent Health during the second quarter worth $72,326,000. Rubicon Founders LLC purchased a new stake in Evolent Health during the 3rd quarter worth about $49,204,000. 8 Knots Management LLC acquired a new position in shares of Evolent Health during the 2nd quarter worth about $32,802,000. Eventide Asset Management LLC boosted its position in shares of Evolent Health by 54.0% during the 3rd quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company’s stock worth $53,246,000 after acquiring an additional 2,205,659 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Evolent Health by 162.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after acquiring an additional 1,754,520 shares during the last quarter.

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.