Evolent Health (NYSE:EVH) Given “Buy” Rating at Canaccord Genuity

Canaccord Genuity reaffirmed their buy rating on shares of Evolent Health (NYSE:EVH) in a report issued on Thursday morning, AnalystRatings.com reports. The brokerage currently has a $19.00 target price on the technology company’s stock.

Several other brokerages have also recently weighed in on EVH. KeyCorp lowered their price target on shares of Evolent Health from $20.00 to $10.00 and set an overweight rating for the company in a research report on Monday, December 2nd. They noted that the move was a valuation call. Wells Fargo & Co lowered their price target on shares of Evolent Health from $19.00 to $17.00 and set an overweight rating for the company in a research report on Wednesday, January 8th. SunTrust Banks reaffirmed a buy rating and issued a $14.00 price target on shares of Evolent Health in a research report on Wednesday, December 4th. Piper Jaffray Companies reaffirmed a buy rating and issued a $10.15 price target on shares of Evolent Health in a research report on Wednesday, December 18th. Finally, Cantor Fitzgerald upped their price target on shares of Evolent Health from $10.00 to $16.00 and gave the stock an overweight rating in a research report on Thursday, January 23rd. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Evolent Health presently has a consensus rating of Buy and an average price target of $14.10.

Shares of EVH traded up $0.06 during mid-day trading on Thursday, hitting $11.46. The company’s stock had a trading volume of 591,500 shares, compared to its average volume of 1,161,835. The company’s 50-day moving average is $10.22 and its 200-day moving average is $8.30. Evolent Health has a 52-week low of $5.50 and a 52-week high of $17.03. The firm has a market capitalization of $962.00 million, a price-to-earnings ratio of -7.74 and a beta of 1.09. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.27.

In other Evolent Health news, President Seth Blackley purchased 14,749 shares of the stock in a transaction dated Wednesday, December 4th. The stock was purchased at an average price of $6.68 per share, with a total value of $98,523.32. 4.50% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of EVH. Morgan Stanley raised its stake in shares of Evolent Health by 63.8% during the 2nd quarter. Morgan Stanley now owns 693,772 shares of the technology company’s stock worth $5,516,000 after acquiring an additional 270,113 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Evolent Health by 10.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 55,656 shares of the technology company’s stock worth $442,000 after acquiring an additional 5,193 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Evolent Health during the 2nd quarter worth approximately $3,034,000. Royal Bank of Canada raised its stake in shares of Evolent Health by 7.6% during the 2nd quarter. Royal Bank of Canada now owns 65,297 shares of the technology company’s stock worth $519,000 after acquiring an additional 4,590 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its stake in shares of Evolent Health by 36.1% during the 3rd quarter. Peregrine Capital Management LLC now owns 1,530,763 shares of the technology company’s stock worth $11,006,000 after acquiring an additional 405,993 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Evolent Health Company Profile

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.

Featured Article: How To Calculate Debt-to-Equity Ratio

Analyst Recommendations for Evolent Health (NYSE:EVH)

Receive News & Ratings for Evolent Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evolent Health and related companies with MarketBeat.com's FREE daily email newsletter.