Evolent Health’s (EVH) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Evolent Health (NYSE:EVH) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $20.00 target price on the technology company’s stock.

EVH has been the topic of several other reports. JPMorgan Chase & Co. increased their price target on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 19th. KeyCorp started coverage on shares of Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective on the stock. Citigroup reduced their price target on Evolent Health from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Barclays cut their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Oppenheimer reduced their price target on shares of Evolent Health from $45.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Evolent Health has an average rating of “Buy” and an average price target of $29.50.

Evolent Health Trading Down 1.8 %

Shares of NYSE EVH traded down $0.23 during trading on Tuesday, reaching $12.44. The company had a trading volume of 499,552 shares, compared to its average volume of 1,759,902. The business’s 50-day moving average is $25.47 and its 200 day moving average is $24.45. Evolent Health has a 12-month low of $12.31 and a 12-month high of $35.00. The company has a current ratio of 1.04, a quick ratio of 1.08 and a debt-to-equity ratio of 0.58.

Insider Activity

In other news, General Counsel Jonathan Weinberg sold 42,140 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total value of $1,314,768.00. Following the sale, the general counsel now directly owns 167,027 shares in the company, valued at approximately $5,211,242.40. This trade represents a 20.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the stock in a transaction dated 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 in the company, valued at $6,141,210.01. This represents a 10.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 307,291 shares of company stock worth $9,290,385. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Evolent Health

Institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in Evolent Health in the 1st quarter valued at $46,000. Covestor Ltd boosted its holdings in shares of Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after purchasing an additional 826 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 buying an additional 1,556 shares during the last quarter. Quarry LP acquired a new position in shares of Evolent Health during the 2nd quarter valued at about $32,000. Finally, Canada Pension Plan Investment Board acquired a new position in Evolent Health in the 2nd quarter valued at about $61,000.

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.