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

Evolent Health, Inc (NYSE:EVH) has been given a consensus recommendation of “Buy” by the fourteen brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $17.79.

EVH has been the topic of several research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. JPMorgan Chase & Co. reduced their price target on shares of Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Truist Financial dropped their price objective on shares of Evolent Health from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of Evolent Health in a research report on Tuesday, May 13th. Finally, UBS Group lifted their target price on Evolent Health from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, May 9th.

Institutional Trading of Evolent Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Creek Advisors LLC grew its stake in shares of Evolent Health by 0.8% during the fourth quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company’s stock valued at $2,274,000 after buying an additional 1,636 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Evolent Health during the 4th quarter worth approximately $26,000. Parkside Financial Bank & Trust boosted its holdings in Evolent Health by 90.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after acquiring an additional 2,358 shares during the period. Johnson Investment Counsel Inc. grew its position in Evolent Health by 28.0% in the 4th quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company’s stock valued at $131,000 after acquiring an additional 2,542 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in Evolent Health in the 1st quarter valued at $25,000.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $8.63 on Thursday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -7.02 and a beta of 0.87. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.69. The stock’s 50-day simple moving average is $8.85 and its 200-day simple moving average is $9.86. Evolent Health has a 52 week low of $7.06 and a 52 week high of $33.63.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). Evolent Health had a negative net margin of 4.54% and a positive return on equity of 3.64%. The business had revenue of $483.65 million for the quarter, compared to the consensus estimate of $460.15 million. During the same period last year, the business posted $0.34 EPS. The firm’s revenue for the quarter was down 24.4% compared to the same quarter last year. As a group, analysts expect that Evolent Health will post 0.08 earnings per share for the current fiscal year.

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.