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

Evolent Health, Inc. (NYSE:EVH) has earned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $42.70.

EVH has been the subject of several research analyst reports. Oppenheimer initiated coverage on Evolent Health in a research report on Friday, March 1st. They set an “outperform” rating and a $45.00 price objective for the company. JMP Securities boosted their price objective on Evolent Health from $37.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. cut their price objective on Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Canaccord Genuity Group cut their price objective on Evolent Health from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. Finally, William Blair reissued an “outperform” rating on shares of Evolent Health in a research report on Tuesday, January 9th.

Hedge Funds Weigh In On Evolent Health

Hedge funds have recently modified their holdings of the stock. West Tower Group LLC raised its holdings in shares of Evolent Health by 656.4% in the 4th quarter. West Tower Group LLC now owns 885 shares of the technology company’s stock worth $29,000 after buying an additional 768 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Evolent Health in the 4th quarter worth approximately $32,000. Signaturefd LLC raised its holdings in shares of Evolent Health by 1,470.7% in the 4th quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock worth $48,000 after buying an additional 1,353 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Evolent Health by 254.4% in the 2nd quarter. Captrust Financial Advisors now owns 1,758 shares of the technology company’s stock worth $54,000 after buying an additional 1,262 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of Evolent Health in the 4th quarter worth approximately $69,000.

Evolent Health Stock Performance

EVH opened at $31.97 on Tuesday. The company has a market cap of $3.69 billion, a PE ratio of -25.17 and a beta of 1.54. The stock has a 50-day moving average of $31.95 and a 200-day moving average of $29.89. Evolent Health has a 52-week low of $23.33 and a 52-week high of $36.70. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.13. Evolent Health had a positive return on equity of 6.60% and a negative net margin of 5.76%. The company had revenue of $556.06 million during the quarter, compared to the consensus estimate of $541.87 million. As a group, equities research analysts forecast that Evolent Health will post 0.87 earnings per share 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.