Evolent Health Inc (NYSE:EVH) has been given a consensus recommendation of “Buy” by the fourteen research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $32.30.
EVH has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $37.00 target price on shares of Evolent Health in a research report on Monday, December 31st. ValuEngine cut Evolent Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 1st. Piper Jaffray Companies reiterated an “overweight” rating and issued a $34.00 price target on shares of Evolent Health in a research note on Wednesday, November 7th. Wells Fargo & Co boosted their price target on Evolent Health from $26.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 7th. Finally, Zacks Investment Research cut Evolent Health from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th.
Shares of NYSE EVH remained flat at $$17.91 on Wednesday. The stock had a trading volume of 12,353 shares, compared to its average volume of 1,008,278. Evolent Health has a 52 week low of $13.06 and a 52 week high of $29.05. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.50 and a quick ratio of 2.50. The stock has a market capitalization of $1.47 billion, a P/E ratio of -25.58 and a beta of 1.38.
Evolent Health (NYSE:EVH) last issued its earnings results on Tuesday, November 6th. The technology company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.07. Evolent Health had a negative return on equity of 2.18% and a negative net margin of 9.05%. The company had revenue of $150.16 million during the quarter, compared to the consensus estimate of $142.94 million. During the same quarter in the prior year, the business earned ($0.18) earnings per share. The company’s revenue was up 38.6% compared to the same quarter last year. Sell-side analysts expect that Evolent Health will post -0.33 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in EVH. Schroder Investment Management Group lifted its stake in shares of Evolent Health by 40.2% in the second quarter. Schroder Investment Management Group now owns 76,426 shares of the technology company’s stock worth $1,674,000 after acquiring an additional 21,925 shares in the last quarter. Northern Trust Corp raised its position in shares of Evolent Health by 23.2% during the 2nd quarter. Northern Trust Corp now owns 1,027,499 shares of the technology company’s stock worth $21,628,000 after purchasing an additional 193,330 shares during the period. Bank of Montreal Can raised its position in shares of Evolent Health by 312.9% during the 3rd quarter. Bank of Montreal Can now owns 100,382 shares of the technology company’s stock worth $2,850,000 after purchasing an additional 76,073 shares during the period. IMA Wealth Inc. raised its position in shares of Evolent Health by 11.7% during the 3rd quarter. IMA Wealth Inc. now owns 142,642 shares of the technology company’s stock worth $4,051,000 after purchasing an additional 14,967 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Evolent Health by 125.7% during the 3rd quarter. First Trust Advisors LP now owns 185,502 shares of the technology company’s stock worth $5,268,000 after purchasing an additional 103,326 shares during the period.
About Evolent Health
Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.
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