Evolent Health (NYSE:EVH) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Evolent Health (NYSE:EVH – Get Rating) in a report published on Thursday morning. The brokerage issued a sell rating on the technology company’s stock.

A number of other brokerages have also commented on EVH. BTIG Research raised their price objective on shares of Evolent Health from $40.00 to $45.00 in a report on Thursday, February 23rd. Truist Financial dropped their price objective on shares of Evolent Health to $32.00 in a report on Thursday, November 17th. Cowen raised their price objective on shares of Evolent Health from $57.00 to $59.00 and gave the stock an outperform rating in a report on Monday, January 30th. Piper Sandler lifted their price target on shares of Evolent Health from $44.00 to $51.00 in a research note on Friday, January 6th. Finally, Cowen lifted their price target on shares of Evolent Health from $52.00 to $57.00 and gave the company an outperform rating in a research note on Friday, November 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $47.70.

Evolent Health Trading Down 2.9 %

Shares of NYSE EVH opened at $30.81 on Thursday. The company’s fifty day moving average is $32.14 and its 200-day moving average is $31.24. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of -154.04 and a beta of 1.56. Evolent Health has a twelve month low of $21.83 and a twelve month high of $39.78. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.48.

Evolent Health (NYSE:EVH – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The technology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Evolent Health had a positive return on equity of 7.50% and a negative net margin of 1.42%. The company had revenue of $382.43 million for the quarter, compared to analyst estimates of $373.68 million. Equities research analysts predict that Evolent Health will post 0.14 EPS for the current year.

Insider Transactions at Evolent Health

In other news, Director Frank J. Williams sold 110,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $34.98, for a total transaction of $3,847,800.00. Following the transaction, the director now directly owns 626,479 shares in the company, valued at approximately $21,914,235.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Frank J. Williams sold 110,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $34.98, for a total transaction of $3,847,800.00. Following the transaction, the director now directly owns 626,479 shares in the company, valued at approximately $21,914,235.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Seth Blackley sold 73,928 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $34.42, for a total transaction of $2,544,601.76. Following the transaction, the chief executive officer now owns 878,066 shares in the company, valued at $30,223,031.72. The disclosure for this sale can be found here. Insiders have sold 384,284 shares of company stock worth $12,488,955 in the last ninety days. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of Evolent Health by 12.7% during the 1st quarter. American Century Companies Inc. now owns 20,453 shares of the technology company’s stock worth $661,000 after buying an additional 2,300 shares during the period. HighTower Advisors LLC bought a new stake in shares of Evolent Health during the 1st quarter worth about $296,000. MetLife Investment Management LLC boosted its holdings in shares of Evolent Health by 52.2% during the 1st quarter. MetLife Investment Management LLC now owns 44,172 shares of the technology company’s stock worth $1,427,000 after buying an additional 15,143 shares during the period. BlackRock Inc. boosted its holdings in shares of Evolent Health by 4.9% during the 1st quarter. BlackRock Inc. now owns 6,180,992 shares of the technology company’s stock worth $199,644,000 after buying an additional 291,029 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Evolent Health by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 7,657,874 shares of the technology company’s stock worth $247,350,000 after buying an additional 111,882 shares during the period. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Evolent Health Company Profile

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Evolent Health, Inc engages in the provision of healthcare delivery and payment services. It deals with population health management, health plan and third party administration, network performance and pharmacy benefit management, risk adjustment, analytics and performance improvement, and technology and electronic medical record integration.