Evolent Health, Inc. (NYSE:EVH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Evolent Health, Inc. (NYSE:EVH) have earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $43.00.

A number of equities research analysts recently issued reports on EVH shares. Canaccord Genuity Group decreased their price target on shares of Evolent Health from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. JPMorgan Chase & Co. cut their price target on shares of Evolent Health from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Barclays assumed coverage on shares of Evolent Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $39.00 price target on the stock. William Blair restated an “outperform” rating on shares of Evolent Health in a report on Tuesday, January 9th. Finally, Oppenheimer assumed coverage on shares of Evolent Health in a report on Friday, March 1st. They issued an “outperform” rating and a $45.00 price target on the stock.

Evolent Health Price Performance

EVH stock opened at $29.51 on Friday. Evolent Health has a one year low of $23.33 and a one year high of $36.70. The company’s fifty day moving average price is $31.97 and its 200-day moving average price is $30.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $3.41 billion, a PE ratio of -23.24 and a beta of 1.53.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, February 22nd. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.02 by $0.13. Evolent Health had a negative net margin of 5.76% and a positive return on equity of 6.60%. The firm had revenue of $556.06 million for the quarter, compared to the consensus estimate of $541.87 million. On average, equities analysts anticipate that Evolent Health will post 0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Several hedge funds and other institutional investors have recently modified their holdings of EVH. NBC Securities Inc. increased its holdings in Evolent Health by 16.6% in the 1st quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after buying an additional 350 shares during the period. First Republic Investment Management Inc. increased its holdings in Evolent Health by 1.6% in the 1st quarter. First Republic Investment Management Inc. now owns 22,005 shares of the technology company’s stock worth $711,000 after buying an additional 355 shares during the period. Legal & General Group Plc increased its holdings in Evolent Health by 0.3% in the 4th quarter. Legal & General Group Plc now owns 112,250 shares of the technology company’s stock worth $3,708,000 after buying an additional 390 shares during the period. SeaCrest Wealth Management LLC increased its holdings in Evolent Health by 4.4% in the 4th quarter. SeaCrest Wealth Management LLC now owns 9,500 shares of the technology company’s stock worth $267,000 after buying an additional 400 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Evolent Health by 1.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 33,256 shares of the technology company’s stock worth $934,000 after buying an additional 402 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.