Evolent Health (NYSE:EVH) Shares Up 5%

Shares of Evolent Health, Inc. (NYSE:EVH) shot up 5% during trading on Thursday . The stock traded as high as $25.74 and last traded at $25.74. 22,182 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 467,515 shares. The stock had previously closed at $24.51.

Several research firms have recently commented on EVH. boosted their target price on shares of Evolent Health from $37.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 4th. JPMorgan Chase & Co. raised shares of Evolent Health from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $26.00 to $37.00 in a report on Thursday, November 18th. Piper Sandler upped their price target on shares of Evolent Health from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, November 4th. Finally, Zacks Investment Research downgraded shares of Evolent Health from a “hold” rating to a “sell” rating in a research note on Wednesday, January 5th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, Evolent Health currently has an average rating of “Buy” and a consensus target price of $36.00.

The stock’s 50 day moving average is $26.92 and its 200-day moving average is $26.07. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.30 and a current ratio of 1.30.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Wednesday, November 3rd. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.05. The company had revenue of $222.47 million for the quarter, compared to the consensus estimate of $226.18 million. Evolent Health had a negative net margin of 5.00% and a negative return on equity of 3.60%. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. As a group, equities analysts forecast that Evolent Health, Inc. will post -0.26 EPS for the current year.

In other news, Chairman Frank J. Williams sold 20,000 shares of the stock in a transaction on Monday, October 18th. The shares were sold at an average price of $30.35, for a total value of $607,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 60,000 shares of company stock worth $1,696,000. Insiders own 4.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in EVH. Fortis Advisors LLC purchased a new stake in shares of Evolent Health in the third quarter valued at $26,000. Manchester Capital Management LLC bought a new position in shares of Evolent Health in the third quarter worth about $32,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Evolent Health by 444.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 3,226 shares of the technology company’s stock worth $100,000 after purchasing an additional 2,634 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of Evolent Health in the second quarter worth about $127,000. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Evolent Health in the second quarter worth about $208,000.

About Evolent Health (NYSE:EVH)

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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