Evolent Health (NYSE:EVH) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Evolent Health (NYSE:EVH) in a research report report published on Monday morning, Benzinga reports. Royal Bank of Canada currently has a $42.00 target price on the technology company’s stock.

EVH has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price objective on shares of Evolent Health from $36.00 to $45.00 and gave the company an overweight rating in a report on Monday, August 19th. Stephens reiterated an overweight rating and issued a $42.00 price objective on shares of Evolent Health in a report on Tuesday, July 30th. Truist Financial upgraded shares of Evolent Health from a hold rating to a buy rating and boosted their target price for the stock from $28.00 to $33.00 in a report on Friday, August 9th. JMP Securities lowered their target price on shares of Evolent Health from $34.00 to $31.00 and set a market outperform rating on the stock in a report on Friday, August 9th. Finally, Canaccord Genuity Group lowered their target price on shares of Evolent Health from $44.00 to $41.00 and set a buy rating on the stock in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $40.40.

Evolent Health Price Performance

NYSE EVH opened at $30.85 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. Evolent Health has a 12-month low of $17.98 and a 12-month high of $35.00. The company has a market capitalization of $3.59 billion, a PE ratio of -24.68 and a beta of 1.54. The firm’s 50 day moving average is $23.05 and its 200-day moving average is $26.59.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. Evolent Health had a negative net margin of 5.07% and a positive return on equity of 6.90%. The company had revenue of $647.10 million for the quarter, compared to the consensus estimate of $636.46 million. During the same period last year, the company earned $0.06 earnings per share. The firm’s revenue was up 37.9% compared to the same quarter last year. Equities research analysts anticipate that Evolent Health will post 0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Evolent Health news, President Daniel Joseph Mccarthy sold 23,693 shares of Evolent Health stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the completion of the transaction, the president now directly owns 198,809 shares of the company’s stock, valued at $6,141,210.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total value of $1,314,768.00. Following the completion of the sale, the general counsel now owns 167,027 shares of the company’s stock, valued at $5,211,242.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the completion of the sale, the president now directly owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. The disclosure for this sale can be found here. Insiders sold a total of 307,291 shares of company stock valued at $9,290,385 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Evolent Health

Institutional investors have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Evolent Health in the second quarter valued at about $32,000. ICA Group Wealth Management LLC bought a new stake in shares of Evolent Health in the fourth quarter valued at about $33,000. Headlands Technologies LLC bought a new stake in shares of Evolent Health in the first quarter valued at about $46,000. Signaturefd LLC lifted its position in Evolent Health by 1,470.7% during the fourth quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock worth $48,000 after purchasing an additional 1,353 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in Evolent Health during the second quarter worth about $61,000.

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.