Citigroup Initiates Coverage on Evolent Health (NYSE:EVH)

Equities researchers at Citigroup started coverage on shares of Evolent Health (NYSE:EVHGet Free Report) in a research note issued to investors on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $40.00 price target on the technology company’s stock. Citigroup’s price target would suggest a potential upside of 35.55% from the company’s previous close.

EVH has been the topic of several other reports. Canaccord Genuity Group reduced their price objective on Evolent Health from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. JMP Securities increased their target price on shares of Evolent Health from $37.00 to $38.00 and gave the stock a “market outperform” rating in a report on Friday, February 23rd. Oppenheimer began coverage on shares of Evolent Health in a report on Friday, March 1st. They issued an “outperform” rating and a $45.00 price target for the company. JPMorgan Chase & Co. lowered their price target on shares of Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Finally, William Blair reissued an “outperform” rating on shares of Evolent Health in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.70.

Read Our Latest Stock Report on EVH

Evolent Health Price Performance

EVH opened at $29.51 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average of $31.97 and a 200 day moving average of $30.24. Evolent Health has a 52-week low of $23.33 and a 52-week high of $36.70. The stock has a market cap of $3.41 billion, a P/E ratio of -23.24 and a beta of 1.54.

Evolent Health (NYSE:EVHGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $541.87 million. As a group, sell-side analysts anticipate that Evolent Health will post 0.87 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. HB Wealth Management LLC acquired a new stake in Evolent Health in the 4th quarter worth approximately $1,425,000. Swiss National Bank grew its holdings in shares of Evolent Health by 8.1% during the third quarter. Swiss National Bank now owns 235,300 shares of the technology company’s stock valued at $6,407,000 after buying an additional 17,700 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Evolent Health by 11.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,239,198 shares of the technology company’s stock valued at $115,433,000 after acquiring an additional 449,664 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in Evolent Health by 7.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 847,768 shares of the technology company’s stock worth $23,085,000 after acquiring an additional 59,376 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Evolent Health by 14.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 858,996 shares of the technology company’s stock valued at $23,390,000 after purchasing an additional 107,963 shares during the last quarter.

About Evolent Health

(Get Free Report)

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.

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Analyst Recommendations for Evolent Health (NYSE:EVH)

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