Evolent Health (NYSE:EVH) Shares Up 6.7% - Still a Buy?

Evolent Health, Inc. (NYSE:EVH - Get Free Report)'s stock price rose 6.7% during mid-day trading on Tuesday . The stock traded as high as $10.67 and last traded at $10.65. Approximately 784,951 shares traded hands during trading, a decline of 67% from the average daily volume of 2,348,501 shares. The stock had previously closed at $9.98.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EVH shares. KeyCorp assumed coverage on shares of Evolent Health in a research note on Friday, October 11th. They issued an "overweight" rating and a $35.00 target price for the company. Royal Bank of Canada reduced their price objective on Evolent Health from $20.00 to $17.00 and set an "outperform" rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price objective on Evolent Health from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Tuesday. UBS Group reduced their target price on Evolent Health from $27.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Finally, JMP Securities lowered their price target on shares of Evolent Health from $27.00 to $18.00 and set a "market outperform" rating on the stock in a report on Friday, January 10th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $18.38.

Evolent Health Stock Down 0.9 %

The firm has a fifty day moving average price of $11.32 and a 200 day moving average price of $20.05. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -11.52 and a beta of 1.45. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58.

Evolent Health (NYSE:EVH - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.38). Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. The business had revenue of $621.40 million during the quarter, compared to analyst estimates of $625.58 million. During the same period in the prior year, the firm posted $0.19 EPS. Sell-side analysts anticipate that Evolent Health, Inc. will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

A number of institutional investors have recently modified their holdings of EVH. Wellington Management Group LLP grew its stake in shares of Evolent Health by 12.8% during the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company's stock valued at $356,200,000 after purchasing an additional 1,426,747 shares during the last quarter. Point72 Asset Management L.P. boosted its position in 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 valued at $42,289,000 after buying an additional 1,422,385 shares during the last quarter. Bellevue Group AG increased its stake in shares of Evolent Health by 59.9% in the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company's stock valued at $75,509,000 after buying an additional 1,000,215 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of Evolent Health by 90.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company's stock worth $9,036,000 after acquiring an additional 380,790 shares during the last quarter. Finally, Foundry Partners LLC acquired a new position in shares of Evolent Health during the third quarter valued at $10,042,000.

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.