BMO Capital Markets Initiates Coverage on Evolent Health (NYSE:EVH)

BMO Capital Markets initiated coverage on shares of Evolent Health (NYSE:EVH) in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $7.00 price target on the technology company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 56.88% from the company’s current price.

Several other equities analysts have also weighed in on EVH. Zacks Research upgraded shares of Evolent Health from a “strong sell” rating to a “hold” rating in a research report on Monday. Weiss Ratings restated a “sell (e+)” rating on shares of Evolent Health in a research note on Wednesday, October 8th. BTIG Research cut their price target on Evolent Health from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Oppenheimer lowered their price objective on Evolent Health from $18.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Piper Sandler lifted their price target on shares of Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.36.

Evolent Health Price Performance

Evolent Health stock traded up $0.01 during trading hours on Thursday, hitting $4.46. 696,506 shares of the stock were exchanged, compared to its average volume of 2,788,518. Evolent Health has a 12 month low of $4.31 and a 12 month high of $13.61. The stock has a market capitalization of $524.33 million, a P/E ratio of -2.77 and a beta of 0.58. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day moving average is $7.88 and its two-hundred day moving average is $8.96.

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

Hedge Funds Weigh In On Evolent Health

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