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

Shares of Evolent Health, Inc (NYSE:EVH) have received an average rating of “Moderate Buy” from the seventeen ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $6.0769.

A number of brokerages have recently commented on EVH. Needham & Company LLC upped their price target on Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Citigroup upped their price target on Evolent Health from $4.00 to $5.50 and gave the company a “buy” rating in a research report on Friday, May 15th. Oppenheimer dropped their price target on Evolent Health from $12.00 to $6.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. Canaccord Genuity Group upped their price target on Evolent Health from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Evolent Health in a research report on Monday, March 2nd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EVH. Brighton Jones LLC purchased a new position in shares of Evolent Health during the 4th quarter valued at $3,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Evolent Health by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock valued at $1,217,000 after purchasing an additional 3,572 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Evolent Health by 162.2% during 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 purchasing an additional 1,754,520 shares during the period. Caxton Associates LLP bought a new stake in shares of Evolent Health during the 1st quarter valued at $252,000. Finally, Strs Ohio bought a new stake in shares of Evolent Health during the 1st quarter valued at $47,000.

Evolent Health Stock Down 1.5%

EVH stock opened at $5.43 on Monday. The stock’s fifty day simple moving average is $4.05 and its two-hundred day simple moving average is $3.54. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 2.46. Evolent Health has a 1-year low of $2.10 and a 1-year high of $12.06. The stock has a market cap of $610.77 million, a P/E ratio of -1.14 and a beta of 0.84.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The business had revenue of $496.25 million for the quarter, compared to analysts’ expectations of $534.00 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. Analysts expect that Evolent Health will post -0.16 EPS for the current 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.