Evolent Health (NYSE:EVH) Shares Up 11.5% – Still a Buy?

Evolent Health, Inc (NYSE:EVH) shares were up 11.5% during trading on Wednesday. The company traded as high as $4.73 and last traded at $4.7960. 228,867 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 2,828,374 shares. The stock had previously closed at $4.30.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EVH shares. Canaccord Genuity Group cut their target price on Evolent Health from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. JPMorgan Chase & Co. upped their price target on shares of Evolent Health from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 18th. TD Cowen increased their price objective on shares of Evolent Health from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Weiss Ratings lowered shares of Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 16th. Finally, Truist Financial decreased their target price 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. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $5.96.

Evolent Health Price Performance

The company has a debt-to-equity ratio of 2.52, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a 50-day moving average of $4.18 and a 200-day moving average of $3.87. The stock has a market cap of $552.41 million, a PE ratio of -1.07 and a beta of 1.03.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $484.50 million for the quarter, compared to analysts’ expectations of $597.70 million. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%. The company’s revenue for the quarter was up 46.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) EPS. Research analysts predict that Evolent Health, Inc will post -0.25 EPS for the current year.

Insider Transactions at Evolent Health

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

Institutional Trading of Evolent Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Maverick Capital Ltd. increased its stake in Evolent Health by 1.3% during the 1st quarter. Maverick Capital Ltd. now owns 2,572,763 shares of the technology company’s stock valued at $5,866,000 after purchasing an additional 32,833 shares in the last quarter. Congress Asset Management Co. boosted its position in Evolent Health by 20.3% in the 3rd quarter. Congress Asset Management Co. now owns 275,158 shares of the technology company’s stock worth $960,000 after purchasing an additional 46,466 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Evolent Health during the second quarter worth $760,000. Sei Investments Co. grew its position in shares of Evolent Health by 50.8% during the 1st quarter. Sei Investments Co. now owns 302,281 shares of the technology company’s stock valued at $689,000 after acquiring an additional 101,867 shares during the period. Finally, First Trust Advisors LP purchased a new stake in shares of Evolent Health in the first quarter valued at approximately $488,000.

Evolent Health Company Profile

Evolent Health, Inc (NYSE: EVH) is a healthcare services and technology company that helps health plans and healthcare providers transition to value-based care. Its platform is designed to support the management of clinical programs, improve patient outcomes and coordinate care while helping customers manage healthcare costs.

The company provides specialty and total-cost-of-care solutions across areas such as cardiology, oncology, musculoskeletal care, radiology and other complex conditions.