Brokerages Set Evolent Health, Inc. (NYSE:EVH) PT at $42.00

Shares of Evolent Health, Inc. (NYSE:EVH) have received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $42.00.

A number of research analysts have recently commented on the company. Canaccord Genuity Group dropped their price objective on Evolent Health from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of Evolent Health in a report on Tuesday. Citigroup began coverage on Evolent Health in a research report on Monday, April 22nd. They issued a “buy” rating and a $40.00 target price for the company. Finally, JMP Securities decreased their target price on Evolent Health from $38.00 to $34.00 and set a “market outperform” rating for the company in a research report on Friday, May 10th.

Evolent Health Price Performance

Shares of NYSE EVH opened at $22.59 on Monday. The stock’s 50-day moving average is $21.39 and its two-hundred day moving average is $27.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. Evolent Health has a 1-year low of $17.98 and a 1-year high of $35.00. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -18.07 and a beta of 1.54.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, May 9th. The technology company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. The business had revenue of $639.65 million for the quarter, compared to the consensus estimate of $601.60 million. Analysts forecast that Evolent Health will post 0.9 EPS for the current fiscal year.

Institutional Trading of Evolent Health

A number of hedge funds have recently added to or reduced their stakes in EVH. NBC Securities Inc. lifted its holdings in shares of Evolent Health by 16.6% in the 1st quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock valued at $81,000 after buying an additional 350 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Evolent Health by 3.2% in the 2nd quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock valued at $298,000 after buying an additional 480 shares during the period. HMS Capital Management LLC lifted its holdings in shares of Evolent Health by 7.8% in the 1st quarter. HMS Capital Management LLC now owns 7,419 shares of the technology company’s stock valued at $243,000 after buying an additional 538 shares during the period. Ascent Group LLC lifted its holdings in shares of Evolent Health by 2.8% in the 1st quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock valued at $667,000 after buying an additional 550 shares during the period. Finally, SeaCrest Wealth Management LLC lifted its holdings in shares of Evolent Health by 6.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock valued at $195,000 after buying an additional 600 shares during the period.

About Evolent Health

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.