Evolent Health (NYSE:EVH) Trading 4.3% Higher - Should You Buy?

Evolent Health, Inc. (NYSE:EVH - Get Free Report) shares were up 4.3% on Wednesday . The stock traded as high as $9.64 and last traded at $9.69. Approximately 112,344 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 2,509,879 shares. The stock had previously closed at $9.29.

Analysts Set New Price Targets

Several research analysts recently commented on EVH shares. Needham & Company LLC restated a "buy" rating and issued a $15.00 price target on shares of Evolent Health in a report on Friday, February 21st. JMP Securities restated a "market outperform" rating and set a $12.00 target price on shares of Evolent Health in a report on Friday, February 14th. Canaccord Genuity Group lowered their price target on Evolent Health from $23.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price objective on Evolent Health from $13.00 to $12.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Finally, Stephens lowered their target price on Evolent Health from $16.00 to $12.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 21st. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $17.64.

Evolent Health Stock Down 3.0 %

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -10.92 and a beta of 1.20. The firm's fifty day moving average is $9.64 and its 200-day moving average is $13.19.

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

Insider Transactions at Evolent Health

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pilgrim Partners Asia Pte Ltd bought a new position in Evolent Health during the 4th quarter valued at $26,000. R Squared Ltd acquired a new stake in shares of Evolent Health in the fourth quarter valued at $31,000. AlphaQuest LLC boosted its stake in Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company's stock valued at $34,000 after buying an additional 3,031 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company's stock worth $56,000 after acquiring an additional 2,358 shares during the period. Finally, AlphaCentric Advisors LLC bought a new stake in Evolent Health in the fourth quarter worth about $61,000.

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.