Stock analysts at Truist Financial initiated coverage on shares of Evolent Health (NYSE:EVH – Get Rating) in a research note issued on Tuesday, The Fly reports. The firm set a “hold” rating and a $33.00 price target on the technology company’s stock. Truist Financial’s target price suggests a potential upside of 3.74% from the company’s current price.
Other analysts have also recently issued research reports about the company. Canaccord Genuity Group reduced their price objective on Evolent Health from $55.00 to $48.00 in a research report on Wednesday, October 12th. BTIG Research cut their target price on Evolent Health from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, October 12th. Piper Sandler raised their target price on Evolent Health from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, August 3rd. Cowen raised their target price on Evolent Health to $52.00 in a report on Monday, July 25th. Finally, Canaccord Genuity Group cut their target price on Evolent Health from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 12th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Evolent Health currently has an average rating of “Moderate Buy” and an average price target of $46.09.
Evolent Health Stock Performance
Shares of Evolent Health stock opened at $31.81 on Tuesday. The stock has a market cap of $2.91 billion, a PE ratio of -99.41 and a beta of 1.70. The business has a fifty day simple moving average of $35.31 and a 200-day simple moving average of $32.38. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.46. Evolent Health has a 12 month low of $21.36 and a 12 month high of $39.78.
Evolent Health (NYSE:EVH – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.07. The firm had revenue of $319.94 million during the quarter, compared to analysts’ expectations of $293.31 million. Evolent Health had a positive return on equity of 0.41% and a negative net margin of 2.63%. On average, sell-side analysts anticipate that Evolent Health will post 0.06 EPS for the current fiscal year.
Insiders Place Their Bets
In other Evolent Health news, General Counsel Jonathan Weinberg sold 14,335 shares of the company’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $34.96, for a total transaction of $501,151.60. Following the transaction, the general counsel now owns 135,103 shares of the company’s stock, valued at approximately $4,723,200.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Evolent Health news, General Counsel Jonathan Weinberg sold 14,335 shares of the company’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $34.96, for a total transaction of $501,151.60. Following the completion of the sale, the general counsel now owns 135,103 shares in the company, valued at approximately $4,723,200.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Bridget Duffy sold 7,500 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $33.13, for a total transaction of $248,475.00. Following the sale, the director now owns 50,450 shares of the company’s stock, valued at approximately $1,671,408.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,269 shares of company stock valued at $3,238,910. 4.20% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Evolent Health
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its stake in shares of Evolent Health by 254.4% during 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 during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Evolent Health by 67.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,250 shares of the technology company’s stock worth $73,000 after buying an additional 910 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in shares of Evolent Health during the 1st quarter worth about $192,000. Oppenheimer & Co. Inc. acquired a new position in shares of Evolent Health during the 1st quarter worth about $206,000. Finally, Convergence Investment Partners LLC acquired a new position in shares of Evolent Health during the 1st quarter worth about $228,000. 96.81% of the stock is owned by institutional investors and hedge funds.
Evolent Health Company Profile
Evolent Health, Inc, a healthcare company, through its subsidiary, Evolent Health LLC, provides clinical and administrative solutions to payers and providers in the United States. It operates in two segments, Evolent Health Services and Clinical Solutions. The Evolent Health Services segment provides an integrated administrative and clinical platform for health plan administration and population health management.
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