Analysts Set Evolent Health, Inc. (NYSE:EVH) PT at $39.91

Evolent Health, Inc. (NYSE:EVH) has been assigned an average recommendation of “Buy” from the twelve brokerages that are currently covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $39.30.

A number of research analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price target on shares of Evolent Health in a report on Tuesday, October 8th. KeyCorp started coverage on Evolent Health in a research note on Friday, October 11th. They set an “overweight” rating and a $35.00 target price on the stock. Stephens reaffirmed an “overweight” rating and issued a $42.00 price target on shares of Evolent Health in a research note on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th.

Insider Transactions at Evolent Health

In related news, COO Emily Ann Rafferty sold 8,861 shares of Evolent Health stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $265,830.00. Following the completion of the transaction, the chief operating officer now directly owns 63,408 shares of the company’s stock, valued at $1,902,240. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Emily Ann Rafferty sold 8,861 shares of Evolent Health stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $265,830.00. Following the transaction, the chief operating officer now owns 63,408 shares of the company’s stock, valued at $1,902,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 307,291 shares of company stock valued at $9,290,385 in the last three months. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Evolent Health

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in 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 in the last quarter. Wellington Management Group LLP increased its stake in Evolent Health by 96.1% during the 4th quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock valued at $274,584,000 after purchasing an additional 4,073,959 shares in the last quarter. RA Capital Management L.P. raised its holdings in Evolent Health by 125.0% in the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock worth $188,088,000 after buying an additional 3,187,000 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of Evolent Health by 35.2% in the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after buying an additional 1,308,376 shares in the last quarter. Finally, Engaged Capital LLC grew its holdings in shares of Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after buying an additional 850,000 shares during the last quarter.

Evolent Health Stock Down 4.1 %

Shares of NYSE EVH opened at $23.94 on Friday. The firm’s fifty day moving average is $28.77 and its 200 day moving average is $25.63. Evolent Health has a 52 week low of $17.98 and a 52 week high of $35.00. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -19.15 and a beta of 1.56.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The business had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The company’s revenue was up 37.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 EPS. On average, equities research analysts expect that Evolent Health will post 0.86 earnings per share for the current year.

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.