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

Evolent Health, Inc. (NYSE:EVH) has been assigned a consensus rating of “Buy” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. Twelve analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $40.40.

EVH has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. JMP Securities cut their target price on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 target price on shares of Evolent Health in a research report on Monday, August 26th. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of Evolent Health in a research report on Tuesday, July 30th. Finally, Truist Financial reiterated a “buy” rating and issued a $33.00 price objective on shares of Evolent Health in a research note on Tuesday, August 27th.

Evolent Health Stock Up 0.7 %

Shares of NYSE EVH opened at $31.04 on Tuesday. 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 $3.61 billion, a price-to-earnings ratio of -24.83 and a beta of 1.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50-day moving average of $26.67 and a two-hundred day moving average of $26.41.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (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 during the quarter, compared to the consensus estimate of $636.46 million. During the same period in the prior year, the company posted $0.06 earnings per share. The firm’s quarterly revenue was up 37.9% compared to the same quarter last year. On average, analysts forecast that Evolent Health will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Evolent Health

In other news, CEO Seth Blackley sold 187,904 shares of Evolent Health stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the sale, the chief executive officer now owns 411,924 shares of the company’s stock, valued at $12,357,720. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Jonathan Weinberg sold 42,140 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 directly owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Seth Blackley sold 187,904 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the sale, the chief executive officer now owns 411,924 shares in the company, valued at $12,357,720. The disclosure for this sale can be found here. In the last three months, insiders have sold 307,291 shares of company stock valued at $9,290,385. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Evolent Health

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in shares of Evolent Health by 96.1% in the 4th quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock valued at $274,584,000 after purchasing an additional 4,073,959 shares in the last quarter. RA Capital Management L.P. boosted its stake in shares of Evolent Health by 125.0% during the 1st quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock worth $188,088,000 after acquiring an additional 3,187,000 shares in the last quarter. Norges Bank acquired a new stake in shares of Evolent Health in the 4th quarter worth approximately $43,759,000. William Blair Investment Management LLC grew its holdings in shares of Evolent Health by 35.2% in the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after acquiring an additional 1,308,376 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in Evolent Health by 81.3% in the 4th quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock valued at $88,355,000 after purchasing an additional 1,199,400 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.