Evolent Health (NYSE:EVH) Stock Rating Upgraded by Zacks Research

Evolent Health (NYSE:EVH) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other analysts have also recently issued reports on EVH. Citizens Jmp lowered their target price on Evolent Health from $13.00 to $11.00 and set a “market outperform” rating for the company in a research note on Monday. Truist Financial reduced their price target on shares of Evolent Health from $16.00 to $10.00 and set a “buy” rating for the company in a report on Monday. Weiss Ratings reissued a “sell (e+)” rating on shares of Evolent Health in a research report on Wednesday, October 8th. Canaccord Genuity Group restated a “buy” rating and set a $16.00 price objective on shares of Evolent Health in a report on Tuesday, September 9th. Finally, BTIG Research reduced their target price on shares of Evolent Health from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.46.

Evolent Health Stock Performance

Shares of Evolent Health stock opened at $5.03 on Monday. The stock’s fifty day simple moving average is $7.98 and its 200 day simple moving average is $8.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $591.07 million, a PE ratio of -3.12 and a beta of 0.58. Evolent Health has a 12 month low of $4.62 and a 12 month high of $15.56.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Tuesday, June 4th. The technology company reported $0.21 earnings per share (EPS) for the quarter. The company had revenue of $427.70 million during the quarter. Evolent Health had a positive return on equity of 1.83% and a negative net margin of 5.94%. On average, research analysts predict that Evolent Health will post 0.08 EPS for the current year.

Institutional Trading of Evolent Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of Evolent Health in the 4th quarter valued at about $3,927,000. Teacher Retirement System of Texas bought a new stake in shares of Evolent Health in the 1st quarter valued at about $137,000. Signaturefd LLC lifted its stake in Evolent Health by 400.6% in the 1st quarter. Signaturefd LLC now owns 7,043 shares of the technology company’s stock valued at $67,000 after purchasing an additional 5,636 shares during the last quarter. Hussman Strategic Advisors Inc. grew its holdings in Evolent Health by 66.7% during the first quarter. Hussman Strategic Advisors Inc. now owns 105,000 shares of the technology company’s stock worth $994,000 after purchasing an additional 42,000 shares during the period. Finally, Allianz Asset Management GmbH increased its position in Evolent Health by 48.9% during the first quarter. Allianz Asset Management GmbH now owns 68,541 shares of the technology company’s stock worth $649,000 after buying an additional 22,514 shares during the last quarter.

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.