Evolent Health (NYSE:EVH) Trading 6.7% Higher – Time to Buy?

Evolent Health, Inc. (NYSE:EVH) shares were up 6.7% during mid-day trading on Tuesday . The company traded as high as $10.67 and last traded at $10.65. Approximately 784,951 shares changed hands during mid-day 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 research firms have weighed in on EVH. Royal Bank of Canada decreased their price target on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. Truist Financial lowered their target price on Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Stephens reduced their price target on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. UBS Group cut their price objective on Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Needham & Company LLC started coverage on shares of Evolent Health in a research note on Friday, January 10th. They set a “buy” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Evolent Health presently has an average rating of “Buy” and a consensus target price of $18.38.

Evolent Health Trading Up 4.4 %

The stock has a market cap of $1.21 billion, a P/E ratio of -11.44 and a beta of 1.45. The stock’s 50-day moving average is $11.40 and its two-hundred day moving average is $20.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.38). Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. The firm had revenue of $621.40 million for the quarter, compared to analysts’ expectations of $625.58 million. During the same quarter in the previous year, the business earned $0.19 EPS. Equities research analysts anticipate that Evolent Health, Inc. will post 0.26 EPS for the current year.

Hedge Funds Weigh In On Evolent Health

A number of institutional investors and hedge funds have recently made changes to their positions in EVH. Covestor Ltd lifted its position in Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after buying an additional 826 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after acquiring an additional 1,556 shares during the last quarter. Quarry LP purchased a new position in shares of Evolent Health during the 2nd quarter worth about $32,000. Creative Planning grew its holdings in Evolent Health by 12.2% during the 2nd quarter. Creative Planning now owns 18,091 shares of the technology company’s stock valued at $346,000 after purchasing an additional 1,973 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Evolent Health in the 4th quarter worth about $31,000.

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.