Evolent Health (NYSE:EVH – Get Free Report) was upgraded by stock analysts at Truist Financial from a “hold” rating to a “buy” rating in a report issued on Friday, Briefing.com reports. The brokerage presently has a $33.00 target price on the technology company’s stock, up from their previous target price of $28.00. Truist Financial’s price objective would suggest a potential upside of 57.67% from the company’s current price.
A number of other analysts have also weighed in on the company. JMP Securities reduced their target price on Evolent Health from $38.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Friday, May 10th. Canaccord Genuity Group reduced their price target on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Citigroup started coverage on shares of Evolent Health in a research report on Monday, April 22nd. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Stephens reaffirmed an “overweight” rating and set a $42.00 target price on shares of Evolent Health in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.91.
Check Out Our Latest Analysis on Evolent Health
Evolent Health Stock Performance
Evolent Health stock opened at $20.93 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $2.43 billion, a P/E ratio of -16.74 and a beta of 1.54. Evolent Health has a 1-year low of $17.98 and a 1-year high of $35.00. The company’s 50-day moving average is $21.29 and its 200 day moving average is $26.76.
Evolent Health (NYSE:EVH – Get Free Report) last released its earnings results 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 firm had revenue of $639.65 million for the quarter, compared to analysts’ expectations of $601.60 million. Research analysts forecast that Evolent Health will post 0.9 EPS for the current year.
Institutional Trading of Evolent Health
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Evolent Health by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock worth $357,905,000 after acquiring an additional 93,739 shares in the last quarter. Wellington Management Group LLP grew its stake in Evolent Health by 96.1% in the fourth quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock valued at $274,584,000 after purchasing an additional 4,073,959 shares during the last quarter. RA Capital Management L.P. raised its holdings in Evolent Health by 125.0% in the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock worth $188,088,000 after purchasing an additional 3,187,000 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Evolent Health by 35.2% during the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after buying an additional 1,308,376 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Evolent Health by 81.3% in the 4th quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock valued at $88,355,000 after buying an additional 1,199,400 shares in the last quarter.
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.
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