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

Shares of Evolent Health, Inc (NYSE:EVH) have been given an average rating of “Moderate Buy” by the seventeen ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $6.25.

A number of analysts have recently issued reports on the stock. Needham & Company LLC increased their price objective on shares of Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Citigroup restated a “sell” rating and set a $6.75 target price (up from $5.50) on shares of Evolent Health in a research note on Thursday. Truist Financial downgraded shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a report on Tuesday, June 30th. Canaccord Genuity Group increased their price target on Evolent Health from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings raised Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th.

Institutional Trading of Evolent Health

Several institutional investors have recently made changes to their positions in the business. R Squared Ltd bought a new stake in Evolent Health during the 1st quarter valued at approximately $26,000. CIBC Private Wealth Group LLC boosted its stake 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 worth $35,000 after purchasing an additional 4,000 shares during the period. Strs Ohio bought a new position in Evolent Health in the 1st quarter worth approximately $47,000. Vise Technologies Inc. purchased a new stake in Evolent Health during the 4th quarter valued at approximately $50,000. Finally, Royal Bank of Canada grew its holdings in Evolent Health by 51.6% during the 1st quarter. Royal Bank of Canada now owns 25,161 shares of the technology company’s stock valued at $57,000 after buying an additional 8,563 shares in the last quarter.

Evolent Health Trading Down 16.6%

Evolent Health stock opened at $4.64 on Friday. The firm has a 50 day moving average of $4.84 and a 200 day moving average of $3.76. The firm has a market capitalization of $522.47 million, a price-to-earnings ratio of -0.98 and a beta of 0.76. Evolent Health has a 12-month low of $2.10 and a 12-month high of $10.35. 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 (NYSE:EVH) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. Evolent Health had a negative net margin of 26.29% and a positive return on equity of 0.36%. The business had revenue of $496.25 million for the quarter, compared to the consensus estimate of $534.00 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, research analysts predict that Evolent Health will post -0.16 earnings per share for the current 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.