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

Evolent Health, Inc. (NYSE:EVH) has earned an average recommendation of “Buy” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Eleven investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $39.30.

EVH has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. JMP Securities decreased their price target on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. KeyCorp started coverage on shares of Evolent Health in a research note on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 target price on shares of Evolent Health in a research report on Tuesday, October 8th. Finally, Truist Financial restated a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a report on Tuesday, August 27th.

Evolent Health Stock Up 0.5 %

Shares of NYSE EVH opened at $26.52 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market cap of $3.08 billion, a PE ratio of -21.22 and a beta of 1.56. The company’s fifty day simple moving average is $28.74 and its 200 day simple moving average is $25.69. Evolent Health has a 12-month low of $17.98 and a 12-month high of $35.00.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The company had revenue of $647.10 million for the quarter, compared to analysts’ expectations of $636.46 million. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The business’s revenue was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. As a group, sell-side analysts forecast that Evolent Health will post 0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Jonathan Weinberg sold 42,140 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total value of $1,314,768.00. Following the completion of the transaction, the general counsel now directly owns 167,027 shares of the company’s stock, valued at $5,211,242.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, General Counsel Jonathan Weinberg sold 42,140 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the completion of the transaction, the general counsel now owns 167,027 shares in the company, valued at approximately $5,211,242.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Daniel Joseph Mccarthy sold 23,693 shares of Evolent Health stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total transaction of $731,876.77. Following the completion of the sale, the president now directly owns 198,809 shares in the company, valued at approximately $6,141,210.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 307,291 shares of company stock valued at $9,290,385 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Evolent Health

A number of large investors have recently bought and sold shares of EVH. Headlands Technologies LLC bought a new position in shares of Evolent Health during the 1st quarter worth $46,000. GAMMA Investing LLC boosted its position in Evolent Health by 5,365.5% during the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after purchasing an additional 1,556 shares during the period. Quarry LP bought a new position in Evolent Health during the second quarter worth about $32,000. NBC Securities Inc. increased its stake in shares of Evolent Health by 16.6% in the first quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after purchasing an additional 350 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Evolent Health in the first quarter valued at approximately $88,000.

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.