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

Shares of Evolent Health, Inc. (NYSE:EVH) have earned an average recommendation of “Buy” from the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $17.71.

A number of analysts recently commented on EVH shares. Oppenheimer dropped their price objective on Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. JMP Securities reissued a “market outperform” rating and issued a $12.00 price objective on shares of Evolent Health in a research report on Friday, February 14th. Citigroup reduced their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. UBS Group lowered their target price on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of Evolent Health in a report on Friday, February 21st.

Evolent Health Price Performance

Evolent Health stock opened at $9.98 on Friday. The company has a market cap of $1.16 billion, a P/E ratio of -12.17 and a beta of 1.49. Evolent Health has a one year low of $8.35 and a one year high of $33.63. The business has a fifty day moving average of $9.79 and a two-hundred day moving average of $14.83. 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 (NYSE:EVH) last posted its earnings results on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The firm had revenue of $646.54 million for the quarter, compared to analysts’ expectations of $650.92 million. As a group, analysts predict that Evolent Health will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Brendan B. Springstubb purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $8.75 per share, with a total value of $43,750.00. Following the transaction, the director now owns 11,842 shares in the company, valued at approximately $103,617.50. The trade was a 73.08 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diane Holder acquired 2,735 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $9.33 per share, with a total value of $25,517.55. Following the acquisition, the director now owns 70,584 shares of the company’s stock, valued at $658,548.72. This trade represents a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 74,000 shares of company stock worth $666,315. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. State of Wyoming acquired a new stake in Evolent Health during the fourth quarter worth about $95,000. Sea Cliff Partners Management LP bought a new position in shares of Evolent Health during the fourth quarter valued at approximately $9,338,000. Silvercrest Asset Management Group LLC raised its position in shares of Evolent Health by 37.3% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,371,053 shares of the technology company’s stock worth $15,424,000 after purchasing an additional 372,793 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of Evolent Health in the 4th quarter worth approximately $988,000. Finally, Redwood Investment Management LLC acquired a new position in Evolent Health during the 4th quarter valued at approximately $468,000.

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.