Evolent Health (NYSE:EVH) Upgraded to “Strong-Buy” by KeyCorp

KeyCorp upgraded shares of Evolent Health (NYSE:EVH) to a strong-buy rating in a research note released on Thursday, Zacks.com reports.

A number of other research analysts also recently commented on the company. JMP Securities lowered their target price on Evolent Health from $34.00 to $31.00 and set a market outperform rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on Evolent Health from $36.00 to $45.00 and gave the company an overweight rating in a research note on Monday, August 19th. Royal Bank of Canada restated an outperform rating and issued a $42.00 target price on shares of Evolent Health in a research note on Tuesday, October 8th. Truist Financial reiterated a buy rating and set a $33.00 price target on shares of Evolent Health in a research note on Tuesday, August 27th. Finally, Stephens reiterated an overweight rating and set a $42.00 price target on shares of Evolent Health in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Evolent Health presently has a consensus rating of Moderate Buy and a consensus target price of $39.91.

Evolent Health Stock Performance

Shares of EVH stock opened at $27.06 on Thursday. The stock’s fifty day simple moving average is $28.41 and its 200-day simple moving average is $25.77. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. Evolent Health has a 1-year low of $17.98 and a 1-year high of $35.00. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -21.65 and a beta of 1.56.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The firm had revenue of $647.10 million for the quarter, compared to the consensus estimate of $636.46 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s quarterly revenue was up 37.9% compared to the same quarter last year. On average, sell-side analysts predict that Evolent Health will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Daniel Joseph Mccarthy sold 23,693 shares of the business’s 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 transaction, the president now owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Evolent Health news, COO Emily Ann Rafferty sold 8,861 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $265,830.00. Following the completion of the transaction, the chief operating officer now owns 63,408 shares of the company’s stock, valued at $1,902,240. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the completion of the transaction, the president now directly owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 307,291 shares of company stock valued at $9,290,385. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Several large investors have recently added to or reduced their stakes in EVH. Quarry LP acquired a new position in Evolent Health in the 2nd quarter valued at approximately $32,000. GAMMA Investing LLC raised its holdings in Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after acquiring an additional 1,556 shares in the last quarter. Headlands Technologies LLC acquired a new position in Evolent Health in the 1st quarter valued at approximately $46,000. Canada Pension Plan Investment Board acquired a new position in Evolent Health in the 2nd quarter valued at approximately $61,000. Finally, NBC Securities Inc. raised its holdings in Evolent Health by 16.6% in the 1st quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock valued at $81,000 after acquiring an additional 350 shares in the last quarter.

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.