Brokerages Set Evolent Health, Inc. (NYSE:EVH) PT at $17.71

Evolent Health, Inc. (NYSE:EVH) has earned a consensus rating of “Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $17.71.

A number of research firms have recently commented on EVH. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective on shares of Evolent Health in a report on Friday, February 21st. Truist Financial dropped their price target on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Royal Bank of Canada cut their price objective on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. Canaccord Genuity Group lowered their target price on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Finally, UBS Group cut their price target on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th.

Insider Transactions at Evolent Health

In related news, Director Brendan B. Springstubb acquired 5,000 shares of Evolent Health stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $8.75 per share, with a total value of $43,750.00. Following the purchase, the director now directly owns 11,842 shares in the company, valued at approximately $103,617.50. The trade was a 73.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane Holder acquired 2,735 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $9.33 per share, with a total value of $25,517.55. Following the completion of the transaction, the director now directly owns 70,584 shares in the company, valued at $658,548.72. This trade represents a 4.03 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 74,000 shares of company stock worth $666,315. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Evolent Health in the 4th quarter worth $26,000. R Squared Ltd acquired a new position in shares of Evolent Health during the fourth quarter worth about $31,000. AlphaQuest LLC raised its holdings in Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after purchasing an additional 3,031 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Evolent Health by 90.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after purchasing an additional 2,358 shares during the period. Finally, AlphaCentric Advisors LLC purchased a new stake in Evolent Health in the 4th quarter valued at approximately $61,000.

Evolent Health Stock Down 5.7 %

Shares of Evolent Health stock opened at $9.42 on Friday. Evolent Health has a 52-week low of $8.35 and a 52-week high of $33.63. The company has a 50 day moving average of $9.78 and a 200 day moving average of $14.46. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.10 billion, a P/E ratio of -11.48 and a beta of 1.20.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.35). The firm had revenue of $646.54 million for the quarter, compared to analysts’ expectations of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. As a group, research analysts forecast that Evolent Health will post 0.08 EPS for the current fiscal year.

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.