JMP Securities Reiterates Market Outperform Rating for Evolent Health (NYSE:EVH)

Evolent Health (NYSE:EVH)‘s stock had its “market outperform” rating restated by equities research analysts at JMP Securities in a note issued to investors on Monday,Benzinga reports. They currently have a $13.00 target price on the technology company’s stock. JMP Securities’ price target indicates a potential upside of 37.28% from the company’s current price.

EVH has been the topic of several other research reports. UBS Group dropped their target price on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Canaccord Genuity Group cut their price objective on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Royal Bank of Canada decreased their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. Stephens lowered their price target on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Finally, Citigroup reduced their price objective on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, January 10th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $17.71.

Evolent Health Price Performance

Shares of EVH stock traded up $0.49 during mid-day trading on Monday, hitting $9.47. 416,371 shares of the stock were exchanged, compared to its average volume of 2,476,197. Evolent Health has a 52-week low of $8.35 and a 52-week high of $33.63. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.10 billion, a PE ratio of -11.55 and a beta of 1.20. The firm has a fifty day moving average of $9.53 and a 200 day moving average of $12.50.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.35). The business had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. Research analysts anticipate that Evolent Health will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Evolent Health

In related news, CEO Seth Blackley purchased 55,225 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $9.01 per share, with a total value of $497,577.25. Following the purchase, the chief executive officer now owns 762,217 shares of the company’s stock, valued at approximately $6,867,575.17. The trade was a 7.81 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Diane Holder bought 2,735 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average price of $9.33 per share, with a total value of $25,517.55. Following the acquisition, the director now directly owns 70,584 shares in the company, valued at $658,548.72. The trade was a 4.03 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 74,000 shares of company stock worth $666,315 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Evolent Health

A number of hedge funds have recently added to or reduced their stakes in the business. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Evolent Health in the fourth quarter worth $26,000. R Squared Ltd purchased a new position in Evolent Health in the fourth quarter valued at $31,000. AlphaQuest LLC grew its stake in Evolent Health by 21,650.0% during the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after purchasing an additional 3,031 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Evolent Health by 90.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after purchasing an additional 2,358 shares during the period. Finally, AlphaCentric Advisors LLC acquired a new stake in Evolent Health in the 4th quarter valued at about $61,000.

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.