Evolent Health (NYSE:EVH) Shares Up 6.1% - Still a Buy?

Evolent Health, Inc. (NYSE:EVH - Get Free Report) was up 6.1% during mid-day trading on Friday . The stock traded as high as $24.16 and last traded at $24.16. Approximately 192,455 shares changed hands during trading, a decline of 88% from the average daily volume of 1,615,184 shares. The stock had previously closed at $22.77.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. KeyCorp began coverage on Evolent Health in a research note on Friday, October 11th. They set an "overweight" rating and a $35.00 target price for the company. Truist Financial restated a "buy" rating and set a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. JPMorgan Chase & Co. increased their price target on shares of Evolent Health from $36.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, August 19th. Stephens reissued an "overweight" rating and set a $42.00 price objective on shares of Evolent Health in a report on Tuesday, July 30th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $42.00 target price on shares of Evolent Health in a report on Tuesday, October 8th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $39.30.

Evolent Health Trading Up 5.5 %

The business has a 50 day moving average of $28.49 and a 200-day moving average of $25.42. The stock has a market cap of $2.79 billion, a PE ratio of -19.33 and a beta of 1.56. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57.

Evolent Health (NYSE:EVH - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 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 business had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. During the same quarter last year, the company earned $0.06 earnings per share. The business's revenue for the quarter was up 37.9% compared to the same quarter last year. On average, analysts anticipate that Evolent Health, Inc. will post 0.86 EPS for the current year.

Insider Activity

In related news, President Daniel Joseph Mccarthy sold 23,693 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the sale, the president now owns 198,809 shares in the company, valued at approximately $6,141,210.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Seth Blackley sold 187,904 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the completion of the transaction, the chief executive officer now owns 411,924 shares of the company's stock, valued at $12,357,720. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total transaction of $731,876.77. Following the transaction, the president now owns 198,809 shares in the company, valued at approximately $6,141,210.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 307,291 shares of company stock valued at $9,290,385 over the last 90 days. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Evolent Health

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Evolent Health by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 10,821,331 shares of the technology company's stock worth $357,429,000 after buying an additional 226,691 shares during the last quarter. Hodges Capital Management Inc. raised its holdings in shares of Evolent Health by 78.3% in the 1st quarter. Hodges Capital Management Inc. now owns 474,746 shares of the technology company's stock worth $15,567,000 after purchasing an additional 208,534 shares during the period. First Dallas Securities Inc. acquired a new position in shares of Evolent Health in the 1st quarter valued at about $256,000. WoodTrust Financial Corp grew its holdings in shares of Evolent Health by 3.2% during the 1st quarter. WoodTrust Financial Corp now owns 44,200 shares of the technology company's stock worth $1,449,000 after purchasing an additional 1,350 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Evolent Health by 18.9% in the first quarter. Principal Financial Group Inc. now owns 15,114 shares of the technology company's stock valued at $496,000 after buying an additional 2,398 shares during the period.

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.