Evolent Health, Inc. (NYSE:EVH) Receives Average Recommendation of “Buy” from Analysts

Shares of Evolent Health, Inc. (NYSE:EVH) have been assigned an average rating of “Buy” from the thirteen research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $21.92.

EVH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. JMP Securities lowered their target price on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating for the company in a research note on Friday, January 10th. Needham & Company LLC started coverage on shares of Evolent Health in a research report on Friday, January 10th. They issued a “buy” rating and a $15.00 price target on the stock. Stephens downgraded shares of Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $38.00 to $16.00 in a research report on Friday, November 8th. Finally, Royal Bank of Canada cut their target price on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th.

Evolent Health Price Performance

EVH opened at $10.02 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. Evolent Health has a 1-year low of $9.88 and a 1-year high of $35.00. The company has a 50-day moving average of $11.79 and a 200-day moving average of $20.73. The company has a market capitalization of $1.17 billion, a P/E ratio of -11.01 and a beta of 1.45.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in Evolent Health by 12.8% in the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after purchasing an additional 1,426,747 shares during the period. Engaged Capital LLC lifted its stake in shares of Evolent Health by 26.1% in the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after acquiring an additional 850,000 shares during the period. Eventide Asset Management LLC boosted its holdings in shares of Evolent Health by 1.7% in the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock valued at $107,580,000 after acquiring an additional 64,985 shares in the last quarter. State Street Corp increased its stake in shares of Evolent Health by 1.0% during the third quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after acquiring an additional 25,967 shares during the period. Finally, Bellevue Group AG raised its holdings in Evolent Health by 59.9% during the third quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after purchasing an additional 1,000,215 shares in the last quarter.

About Evolent Health

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.