Evolent Health (NYSE:EVH) Stock Price Expected to Rise, UBS Group Analyst Says

Evolent Health (NYSE:EVH) had its price objective increased by investment analysts at UBS Group from $14.00 to $15.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. UBS Group’s price objective points to a potential upside of 65.75% from the company’s previous close.

A number of other research firms have also recently commented on EVH. Citigroup lowered their target price 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. JMP Securities restated a “market outperform” rating and set a $13.00 target price on shares of Evolent Health in a report on Monday, April 28th. Canaccord Genuity Group decreased their price target on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Evolent Health in a research note on Friday, February 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Evolent Health currently has an average rating of “Buy” and a consensus target price of $17.79.

Evolent Health Stock Performance

Shares of EVH stock opened at $9.05 on Friday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -11.04 and a beta of 1.04. The stock has a fifty day moving average of $9.61 and a 200 day moving average of $11.55. 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.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, May 8th. The technology company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The company had revenue of $483.65 million during the quarter, compared to analysts’ expectations of $460.15 million. During the same period in the prior year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was down 24.4% on a year-over-year basis. As a group, research analysts expect that Evolent Health will post 0.08 earnings per share for the current year.

Insider Activity at Evolent Health

In related news, Director Brendan B. Springstubb acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the completion of the transaction, the director now directly owns 11,842 shares in the company, valued at approximately $103,617.50. This trade represents a 73.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Seth Blackley bought 55,225 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $9.01 per share, with a total value of $497,577.25. Following the transaction, the chief executive officer now owns 762,217 shares in the company, valued at $6,867,575.17. This trade represents a 7.81 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 74,000 shares of company stock valued at $666,315 over the last ninety days. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC lifted its holdings in Evolent Health by 181.3% in the third quarter. Barclays PLC now owns 273,776 shares of the technology company’s stock valued at $7,742,000 after acquiring an additional 176,445 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Evolent Health by 40.8% in the third quarter. Franklin Resources Inc. now owns 909,776 shares of the technology company’s stock worth $24,682,000 after buying an additional 263,815 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Evolent Health by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock worth $1,469,000 after buying an additional 8,552 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Evolent Health by 90.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock valued at $9,036,000 after buying an additional 380,790 shares during the period. Finally, Salem Investment Counselors Inc. raised its position in Evolent Health by 53.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock worth $3,939,000 after acquiring an additional 121,369 shares during the period.

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.