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 recommendation of “Moderate Buy” by the seventeen brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $6.00.

Several brokerages have weighed in on EVH. Oppenheimer lowered their price target on Evolent Health from $12.00 to $6.00 and set an “outperform” rating for the company in a report on Monday, March 2nd. Citigroup raised their price target on Evolent Health from $4.00 to $5.50 and gave the stock a “buy” rating in a report on Friday, May 15th. BMO Capital Markets reissued an “outperform” rating and issued a $3.50 price target on shares of Evolent Health in a report on Wednesday, February 25th. Truist Financial lowered their price target on Evolent Health from $10.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Finally, KeyCorp downgraded Evolent Health from an “overweight” rating to a “sector weight” rating in a report on Wednesday, February 25th.

Institutional Investors Weigh In On Evolent Health

Institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in Evolent Health in the first quarter worth about $26,000. CIBC Private Wealth Group LLC boosted its holdings in 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 worth $35,000 after acquiring an additional 4,000 shares in the last quarter. Strs Ohio acquired a new stake in Evolent Health in the first quarter worth about $47,000. Vise Technologies Inc. acquired a new stake in shares of Evolent Health during the fourth quarter worth about $50,000. Finally, Royal Bank of Canada lifted its holdings in shares of Evolent Health by 51.6% during the first quarter. Royal Bank of Canada now owns 25,161 shares of the technology company’s stock worth $57,000 after purchasing an additional 8,563 shares during the period.

Evolent Health Price Performance

EVH opened at $3.79 on Thursday. The business’s 50-day moving average is $3.27 and its two-hundred day moving average is $3.46. Evolent Health has a 1 year low of $2.10 and a 1 year high of $12.06. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $425.74 million, a PE ratio of -0.80 and a beta of 0.84.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $496.25 million for the quarter, compared to analyst estimates of $534.00 million. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Research analysts anticipate that Evolent Health will post -0.23 earnings per share for the current fiscal year.

Evolent Health Company Profile

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.