Brokerages Set Evolent Health, Inc. (NYSE:EVH) Price Target at $17.71

Shares of Evolent Health, Inc. (NYSE:EVH - Get Free Report) have been assigned a consensus rating of "Buy" from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $17.71.

A number of research analysts have recently issued reports on EVH shares. JMP Securities reissued a "market outperform" rating and issued a $12.00 price objective on shares of Evolent Health in a research note on Friday, February 14th. Truist Financial dropped their price target on Evolent Health from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Oppenheimer cut their price target on Evolent Health from $28.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. Canaccord Genuity Group lowered their price objective on shares of Evolent Health from $23.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Finally, Piper Sandler reissued an "overweight" rating and set a $16.00 target price (down from $17.00) on shares of Evolent Health in a research note on Friday, February 21st.

Evolent Health Trading Up 2.4 %

Evolent Health stock traded up $0.23 during mid-day trading on Tuesday, hitting $9.62. 747,538 shares of the stock were exchanged, compared to its average volume of 2,065,394. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -11.70 and a beta of 1.49. Evolent Health has a 12 month low of $8.35 and a 12 month high of $34.07. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm's fifty day simple moving average is $10.29 and its two-hundred day simple moving average is $17.28.

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Evolent Health (NYSE:EVH - Get Free Report) last announced its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.35). The firm had revenue of $646.54 million for the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. Analysts forecast that Evolent Health will post 0.08 EPS for the current year.

Insider Activity at Evolent Health

In other news, Director Diane Holder purchased 2,735 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the completion of the acquisition, the director now owns 70,584 shares in the company, valued at $658,548.72. This trade represents a 4.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Seth Blackley acquired 55,225 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $9.01 per share, with a total value of $497,577.25. Following the purchase, the chief executive officer now owns 762,217 shares in the company, valued at approximately $6,867,575.17. The trade was a 7.81 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 74,000 shares of company stock valued at $666,315. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Evolent Health

Hedge funds and other institutional investors have recently modified their holdings of the business. Cadian Capital Management LP purchased a new position in Evolent Health in the fourth quarter worth $58,781,000. Wellington Management Group LLP raised its stake in shares of Evolent Health by 12.8% during the 3rd 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. Point72 Asset Management L.P. boosted its holdings in shares of Evolent Health by 1,948.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company's stock worth $42,289,000 after buying an additional 1,422,385 shares during the last quarter. Engaged Capital LLC grew its position in Evolent Health by 35.5% during the fourth quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock valued at $60,804,000 after buying an additional 1,415,300 shares during the period. Finally, Boston Partners increased its holdings in Evolent Health by 92.0% during the fourth quarter. Boston Partners now owns 2,444,006 shares of the technology company's stock worth $27,097,000 after buying an additional 1,171,304 shares during 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.