Evolent Health, Inc. (NYSE:EVH) Given Average Rating of “Moderate Buy” by Brokerages

Evolent Health, Inc. (NYSE:EVH) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $42.00.

Several research analysts have weighed in on the stock. Canaccord Genuity Group decreased their price objective on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a report on Friday, May 10th. Citigroup began coverage on shares of Evolent Health in a research report on Monday, April 22nd. They issued a “buy” rating and a $40.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on shares of Evolent Health from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Finally, JMP Securities reduced their price target on shares of Evolent Health from $38.00 to $34.00 and set a “market outperform” rating on the stock in a research report on Friday, May 10th.

Evolent Health Stock Performance

NYSE:EVH opened at $19.11 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a market cap of $2.22 billion, a P/E ratio of -15.29 and a beta of 1.54. Evolent Health has a fifty-two week low of $17.98 and a fifty-two week high of $35.00. The firm’s 50 day moving average is $22.53 and its two-hundred day moving average is $28.31.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, May 9th. The technology company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $639.65 million for the quarter, compared to the consensus estimate of $601.60 million. Evolent Health had a negative net margin of 5.07% and a positive return on equity of 6.90%. Analysts expect that Evolent Health will post 0.9 EPS for the current year.

Hedge Funds Weigh In On Evolent Health

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Evolent Health by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock worth $357,905,000 after purchasing an additional 93,739 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Evolent Health by 96.1% in the 4th quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock worth $274,584,000 after purchasing an additional 4,073,959 shares during the last quarter. RA Capital Management L.P. grew its stake in shares of Evolent Health by 125.0% in the 1st quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock worth $188,088,000 after purchasing an additional 3,187,000 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Evolent Health by 81.3% in the 4th quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock worth $88,355,000 after purchasing an additional 1,199,400 shares during the last quarter. Finally, Hood River Capital Management LLC grew its stake in shares of Evolent Health by 6.6% in the 1st quarter. Hood River Capital Management LLC now owns 2,207,037 shares of the technology company’s stock worth $72,369,000 after purchasing an additional 137,004 shares during the last quarter.

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.