Evolent Health, Inc (NYSE:EVH) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Evolent Health, Inc (NYSE:EVH) have been given an average rating of “Moderate Buy” by the seventeen analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $6.0385.

A number of brokerages have issued reports on EVH. Piper Sandler set a $6.00 target price on shares of Evolent Health in a research report on Tuesday, December 2nd. Wall Street Zen upgraded shares of Evolent Health from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. KeyCorp cut shares of Evolent Health from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, February 25th. Citizens Jmp cut their price objective on Evolent Health from $11.00 to $10.00 and set a “market outperform” rating for the company in a research report on Tuesday, January 6th. Finally, Needham & Company LLC reduced their target price on Evolent Health from $15.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th.

Hedge Funds Weigh In On Evolent Health

A number of institutional investors have recently made changes to their positions in EVH. CIBC Private Wealth Group LLC lifted its position in shares of Evolent Health by 4,000.0% in the third quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock valued at $35,000 after acquiring an additional 4,000 shares in the last quarter. Strs Ohio purchased a new stake in Evolent Health during the 1st quarter worth about $47,000. Headlands Technologies LLC purchased a new stake in Evolent Health during the 2nd quarter worth about $58,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Evolent Health in the 3rd quarter valued at about $51,000. Finally, State of Alaska Department of Revenue acquired a new position in Evolent Health in the 3rd quarter valued at about $56,000.

Evolent Health Stock Down 5.7%

Evolent Health stock opened at $2.59 on Friday. Evolent Health has a fifty-two week low of $2.50 and a fifty-two week high of $12.06. The firm has a market capitalization of $288.59 million, a price-to-earnings ratio of -0.50 and a beta of 0.24. The stock’s fifty day moving average is $3.19 and its two-hundred day moving average is $5.15. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.31 and a current ratio of 1.31.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Tuesday, February 24th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. Evolent Health had a positive return on equity of 1.49% and a negative net margin of 28.49%.The business had revenue of $468.72 million during the quarter, compared to the consensus estimate of $468.48 million. During the same quarter in the previous year, the company posted ($0.02) EPS. The business’s revenue was down 27.5% on a year-over-year basis. Analysts predict that Evolent Health will post 0.08 EPS for the current fiscal year.

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.