Evolent Health, Inc. (NYSE:EVH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Posted by Defense World Staff on Mar 17th, 2023

Shares of Evolent Health, Inc. (NYSE:EVH – Get Rating) have been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $47.70.

Several equities analysts recently commented on EVH shares. BTIG Research upped their price target on shares of Evolent Health from $40.00 to $45.00 in a research note on Thursday, February 23rd. Piper Sandler upped their price target on shares of Evolent Health from $44.00 to $51.00 in a research note on Friday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $44.00 price target on shares of Evolent Health in a research note on Thursday, February 23rd. StockNews.com started coverage on shares of Evolent Health in a research note on Thursday. They issued a “sell” rating on the stock. Finally, Truist Financial decreased their price target on shares of Evolent Health to $32.00 in a research note on Thursday, November 17th.

Evolent Health Price Performance

Shares of EVH opened at $31.73 on Friday. The company has a market cap of $3.52 billion, a price-to-earnings ratio of -158.64 and a beta of 1.56. Evolent Health has a 1-year low of $21.83 and a 1-year high of $39.78. The company’s fifty day simple moving average is $31.96 and its 200 day simple moving average is $31.27. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.48.

Evolent Health (NYSE:EVH – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The technology company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Evolent Health had a negative net margin of 1.42% and a positive return on equity of 7.50%. The company had revenue of $382.43 million during the quarter, compared to analyst estimates of $373.68 million. On average, research analysts forecast that Evolent Health will post 0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Frank J. Williams sold 110,000 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $34.98, for a total value of $3,847,800.00. Following the completion of the transaction, the director now owns 626,479 shares of the company’s stock, valued at $21,914,235.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Seth Blackley sold 73,928 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $34.42, for a total value of $2,544,601.76. Following the transaction, the chief executive officer now directly owns 878,066 shares in the company, valued at approximately $30,223,031.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank J. Williams sold 110,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $34.98, for a total value of $3,847,800.00. Following the transaction, the director now owns 626,479 shares in the company, valued at $21,914,235.42. The disclosure for this sale can be found here. Insiders sold 384,284 shares of company stock valued at $12,488,955 over the last quarter. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Evolent Health

Large investors have recently bought and sold shares of the stock. American Century Companies Inc. raised its stake in shares of Evolent Health by 12.7% during the 1st quarter. American Century Companies Inc. now owns 20,453 shares of the technology company’s stock worth $661,000 after purchasing an additional 2,300 shares during the period. HighTower Advisors LLC purchased a new stake in Evolent Health in the 1st quarter worth about $296,000. MetLife Investment Management LLC increased its holdings in Evolent Health by 52.2% in the 1st quarter. MetLife Investment Management LLC now owns 44,172 shares of the technology company’s stock worth $1,427,000 after acquiring an additional 15,143 shares during the last quarter. BlackRock Inc. grew its holdings in Evolent Health by 4.9% during the 1st quarter. BlackRock Inc. now owns 6,180,992 shares of the technology company’s stock valued at $199,644,000 after buying an additional 291,029 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Evolent Health by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 7,657,874 shares of the technology company’s stock valued at $247,350,000 after buying an additional 111,882 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors.

Evolent Health Company Profile

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Evolent Health, Inc engages in the provision of healthcare delivery and payment services. It deals with population health management, health plan and third party administration, network performance and pharmacy benefit management, risk adjustment, analytics and performance improvement, and technology and electronic medical record integration.