Evolent Health (NYSE:EVH) Given New $31.00 Price Target at JMP Securities

Evolent Health (NYSE:EVH) had its price objective lowered by JMP Securities from $34.00 to $31.00 in a report released on Friday, Benzinga reports. The firm currently has a market outperform rating on the technology company’s stock.

A number of other research firms have also recently commented on EVH. Citigroup initiated coverage on Evolent Health in a research note on Monday, April 22nd. They issued a buy rating and a $40.00 target price on the stock. Truist Financial raised shares of Evolent Health from a hold rating to a buy rating and increased their price objective for the company from $28.00 to $33.00 in a research report on Friday. Canaccord Genuity Group decreased their target price on shares of Evolent Health from $44.00 to $41.00 and set a buy rating for the company in a report on Friday, May 10th. Finally, Stephens reiterated an overweight rating and set a $42.00 price target on shares of Evolent Health in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $41.64.

Evolent Health Stock Up 26.5 %

Shares of NYSE:EVH traded up $5.53 during midday trading on Friday, reaching $26.40. The company’s stock had a trading volume of 9,228,710 shares, compared to its average volume of 1,452,545. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $21.39 and a 200-day moving average of $26.70. The firm has a market capitalization of $3.07 billion, a P/E ratio of -21.12 and a beta of 1.54. Evolent Health has a 12-month low of $17.98 and a 12-month high of $35.00.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The firm had revenue of $639.65 million for the quarter, compared to analysts’ expectations of $601.60 million. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. On average, research analysts anticipate that Evolent Health will post 0.9 earnings per share for the current year.

Institutional Investors Weigh In On Evolent Health

Large investors have recently made changes to their positions in the company. ICA Group Wealth Management LLC bought a new stake in shares of Evolent Health during the 4th quarter valued at $33,000. Headlands Technologies LLC purchased a new stake in Evolent Health in the first quarter worth about $46,000. Signaturefd LLC raised its stake in shares of Evolent Health by 1,470.7% in the fourth quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock worth $48,000 after buying an additional 1,353 shares during the period. NBC Securities Inc. purchased a new position in shares of Evolent Health during the 4th quarter valued at about $69,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Evolent Health during the 1st quarter valued at approximately $88,000.

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.