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

Shares of Evolent Health, Inc (NYSE:EVH) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $9.50.

EVH has been the topic of a number of analyst reports. Canaccord Genuity Group decreased their price objective on Evolent Health from $16.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Truist Financial decreased their price target on shares of Evolent Health from $16.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. BMO Capital Markets assumed coverage on shares of Evolent Health in a report on Thursday, November 13th. They set an “outperform” rating and a $7.00 price target for the company. Stephens raised shares of Evolent Health from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective on the stock in a research note on Thursday, November 13th. Finally, Piper Sandler set a $6.00 target price on shares of Evolent Health in a research report on Tuesday, December 2nd.

Institutional Investors Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its stake in Evolent Health by 88.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after purchasing an additional 1,194 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Evolent Health by 4,000.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock valued at $35,000 after buying an additional 4,000 shares during the period. Strs Ohio purchased a new stake in Evolent Health in the 1st quarter valued at about $47,000. Headlands Technologies LLC acquired a new position in shares of Evolent Health during the 2nd quarter valued at about $58,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Evolent Health during the 3rd quarter worth about $51,000.

Evolent Health Price Performance

Shares of NYSE:EVH opened at $2.77 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.33 and a current ratio of 1.33. The business’s fifty day moving average price is $3.57 and its two-hundred day moving average price is $5.92. The stock has a market cap of $308.57 million, a PE ratio of -1.75 and a beta of 0.27. Evolent Health has a one year low of $2.56 and a one year high of $12.06.

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.