Evolent Health, Inc (NYSE:EVH) Stock Has Consensus Price Target of $5.96 According to Analysts

Evolent Health, Inc (NYSE:EVH) has received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $5.96.

Several research analysts recently weighed in on EVH shares. Weiss Ratings raised shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. Citigroup raised shares of Evolent Health from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $6.75 to $6.00 in a research note on Monday, August 10th. Truist Financial lowered their price target on shares of Evolent Health from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, August 12th. Canaccord Genuity Group cut their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Finally, TD Cowen upped their price objective on shares of Evolent Health from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Monday, August 17th.

Evolent Health Price Performance

EVH stock opened at $4.05 on Wednesday. The stock’s 50 day moving average price is $4.04 and its 200 day moving average price is $4.03. The firm has a market cap of $458.46 million, a P/E ratio of -0.89 and a beta of 1.02. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.24 and a current ratio of 1.24. Evolent Health has a 1 year low of $2.10 and a 1 year high of $8.33.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%. The company had revenue of $484.50 million during the quarter, compared to the consensus estimate of $597.70 million. During the same quarter last year, the business posted ($0.10) earnings per share. Evolent Health’s revenue was up 46.9% compared to the same quarter last year. On average, sell-side analysts expect that Evolent Health will post -0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Evolent Health news, President Daniel Mccarthy sold 65,892 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $5.00, for a total value of $329,460.00. Following the completion of the transaction, the president directly owned 655,133 shares in the company, valued at approximately $3,275,665. The trade was a 9.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.48% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Several institutional investors have recently added to or reduced their stakes in the business. Castle Hook Partners LP acquired a new position in shares of Evolent Health during the 4th quarter valued at about $3,751,000. First Trust Advisors LP acquired a new stake in shares of Evolent Health in the first quarter worth approximately $488,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Evolent Health in the second quarter worth approximately $760,000. Sei Investments Co. grew its holdings in Evolent Health by 50.8% in the first quarter. Sei Investments Co. now owns 302,281 shares of the technology company’s stock valued at $689,000 after purchasing an additional 101,867 shares during the period. Finally, Corient Private Wealth LP grew its holdings in Evolent Health by 447.4% in the second quarter. Corient Private Wealth LP now owns 81,594 shares of the technology company’s stock valued at $442,000 after purchasing an additional 66,687 shares during the period.

About Evolent Health

Evolent Health, Inc is a healthcare services and technology company that helps health plans and providers manage specialty care and transition to value-based models. Its offerings are designed to coordinate care, improve clinical outcomes and support more predictable healthcare costs across complex medical conditions.

The company provides technology-enabled administrative, clinical and analytical services for areas such as oncology, cardiology, musculoskeletal care and other specialty-care categories.