Evolent Health (NYSE:EVH) Stock Price Up 5.2% – Still a Buy?

Evolent Health, Inc. (NYSE:EVH) shares rose 5.2% during mid-day trading on Tuesday . The stock traded as high as $12.87 and last traded at $12.84. Approximately 1,052,131 shares were traded during trading, a decline of 41% from the average daily volume of 1,790,988 shares. The stock had previously closed at $12.21.

Wall Street Analyst Weigh In

EVH has been the topic of several analyst reports. Truist Financial reissued a “buy” rating and set a $33.00 target price on shares of Evolent Health in a report on Tuesday, August 27th. Citigroup reduced their target price on Evolent Health from $33.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. Barclays dropped their price objective on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. dropped their price objective on Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $25.90.

Evolent Health Stock Down 2.4 %

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 $1.51 billion, a P/E ratio of -14.22 and a beta of 1.58. The firm has a 50-day simple moving average of $22.55 and a 200 day simple moving average of $23.56.

Hedge Funds Weigh In On Evolent Health

Several large investors have recently bought and sold shares of EVH. Quarry LP bought a new position in Evolent Health in the second quarter valued at about $32,000. Covestor Ltd raised 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 valued at $40,000 after purchasing an additional 826 shares during the last quarter. GAMMA Investing LLC raised its position in Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,556 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Evolent Health during the second quarter worth about $61,000. Finally, Quest Partners LLC bought a new position in shares of Evolent Health during the second quarter worth about $87,000.

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.