Evolent Health, Inc. (NYSE:EVH) Receives $17.71 Consensus Price Target from Brokerages

Shares of Evolent Health, Inc. (NYSE:EVH) have earned an average recommendation of “Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $17.64.

A number of analysts have recently issued reports on the stock. Stephens dropped their price objective on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Citigroup dropped their price target 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. JPMorgan Chase & Co. reduced their price objective on Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Oppenheimer dropped their target price on Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $12.00 target price on shares of Evolent Health in a research note on Friday, February 14th.

Insiders Place Their Bets

In related news, Director Diane Holder purchased 2,735 shares of Evolent Health stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the completion of the transaction, the director now directly owns 70,584 shares of the company’s stock, valued at $658,548.72. This represents a 4.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Seth Blackley acquired 55,225 shares of the stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $9.01 per share, with a total value of $497,577.25. Following the completion of the acquisition, the chief executive officer now directly owns 762,217 shares of the company’s stock, valued at $6,867,575.17. This trade represents a 7.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 74,000 shares of company stock worth $666,315. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in Evolent Health by 150.4% in the third quarter. BNP Paribas Financial Markets now owns 25,469 shares of the technology company’s stock worth $720,000 after purchasing an additional 15,299 shares during the period. State Street Corp boosted its holdings in shares of Evolent Health by 1.0% during the 3rd quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after buying an additional 25,967 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Evolent Health by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after buying an additional 1,426,747 shares during the period. Barclays PLC increased its stake in shares of Evolent Health by 181.3% in the 3rd quarter. Barclays PLC now owns 273,776 shares of the technology company’s stock worth $7,742,000 after acquiring an additional 176,445 shares in the last quarter. Finally, Brophy Wealth Management LLC purchased a new position in Evolent Health during the 3rd quarter valued at about $405,000.

Evolent Health Price Performance

Shares of NYSE EVH opened at $10.02 on Friday. The stock’s 50-day simple moving average is $9.71 and its two-hundred day simple moving average is $13.85. Evolent Health has a twelve month low of $8.35 and a twelve month high of $33.63. The firm has a market capitalization of $1.17 billion, a P/E ratio of -12.22 and a beta of 1.20. 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 announced its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The company had revenue of $646.54 million during the quarter, compared to analysts’ expectations of $650.92 million. As a group, equities analysts anticipate that Evolent Health will post 0.08 EPS for the current fiscal year.

Evolent Health Company Profile

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.