Evolent Health (NYSE:EVH) PT Raised to $35.00

Evolent Health (NYSE:EVH) had its price objective increased by equities researchers at BTIG Research from $30.00 to $35.00 in a research report issued on Monday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. BTIG Research’s price target points to a potential upside of 33.33% from the stock’s previous close.

EVH has been the topic of a number of other reports. Canaccord Genuity lifted their price objective on Evolent Health from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, August 5th. TheStreet upgraded Evolent Health from a “d” rating to a “c-” rating in a research report on Monday, August 23rd. Piper Sandler lifted their price target on Evolent Health from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, August 5th. Finally, Zacks Investment Research lowered Evolent Health from a “buy” rating to a “hold” rating in a research report on Wednesday, August 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $28.40.

Shares of NYSE EVH opened at $26.25 on Monday. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of -31.25 and a beta of 2.40. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.34. Evolent Health has a 1-year low of $9.44 and a 1-year high of $26.86. The stock’s 50-day moving average is $23.54 and its 200 day moving average is $21.28.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Wednesday, August 4th. The technology company reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.05. The business had revenue of $222.06 million for the quarter, compared to analysts’ expectations of $216.97 million. Evolent Health had a negative return on equity of 3.38% and a negative net margin of 7.28%. On average, analysts forecast that Evolent Health will post -0.27 EPS for the current fiscal year.

In related news, COO Steve Tutewohl sold 25,030 shares of the stock in a transaction that occurred on Tuesday, August 3rd. The stock was sold at an average price of $23.02, for a total transaction of $576,190.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Jonathan Weinberg sold 8,254 shares of the stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of $24.01, for a total value of $198,178.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,016 shares of company stock valued at $2,930,635. Corporate insiders own 4.20% of the company’s stock.

A number of large investors have recently made changes to their positions in EVH. Dark Forest Capital Management LP bought a new position in Evolent Health in the second quarter worth approximately $127,000. Harbour Investments Inc. bought a new stake in Evolent Health during the 1st quarter valued at $141,000. Premier Fund Managers Ltd bought a new stake in Evolent Health during the 1st quarter valued at $200,000. SeaCrest Wealth Management LLC bought a new stake in Evolent Health during the 2nd quarter valued at $208,000. Finally, AlphaCrest Capital Management LLC bought a new stake in Evolent Health during the 2nd quarter valued at $213,000. 94.50% of the stock is currently owned by institutional investors.

Evolent Health Company Profile

Evolent Health, Inc engages in the provision of health care 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.

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