Evolent Health (NYSE:EVH) Coverage Initiated by Analysts at BMO Capital Markets

Equities research analysts at BMO Capital Markets started coverage on shares of Evolent Health (NYSE:EVH) in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage set an “outperform” rating and a $7.00 price target on the technology company’s stock. BMO Capital Markets’ price objective points to a potential upside of 56.88% from the stock’s current price.

Several other brokerages also recently weighed in on EVH. Zacks Research upgraded Evolent Health from a “strong sell” rating to a “hold” rating in a research note on Monday. BTIG Research dropped their price target on Evolent Health from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Evolent Health in a research note on Wednesday, October 8th. Stephens reiterated an “equal weight” rating and set a $9.00 price target on shares of Evolent Health in a report on Wednesday, September 24th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $16.00 price objective on shares of Evolent Health in a report on Tuesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Evolent Health has an average rating of “Moderate Buy” and a consensus price target of $13.36.

Evolent Health Stock Performance

NYSE EVH traded up $0.01 on Thursday, hitting $4.46. 696,506 shares of the company traded hands, compared to its average volume of 2,788,518. The company has a market capitalization of $524.33 million, a price-to-earnings ratio of -2.77 and a beta of 0.58. The business’s 50 day moving average price is $7.88 and its 200-day moving average price is $8.96. Evolent Health has a 52-week low of $4.31 and a 52-week high of $13.61. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Tuesday, June 4th. The technology company reported $0.21 earnings per share for the quarter. The firm had revenue of $427.70 million during the quarter. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. Equities analysts expect that Evolent Health will post 0.08 earnings per share for the current year.

Institutional Trading of Evolent Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise bought a new position in shares of Evolent Health in the first quarter worth about $25,000. Nisa Investment Advisors LLC increased its stake in shares of Evolent Health by 88.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after purchasing an additional 1,194 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Evolent Health by 82.6% during the 2nd quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock valued at $39,000 after buying an additional 1,577 shares in the last quarter. Strs Ohio acquired a new position in Evolent Health during the first quarter worth $47,000. Finally, US Bancorp DE increased its stake in shares of Evolent Health by 291.0% during the first quarter. US Bancorp DE now owns 5,153 shares of the technology company’s stock worth $49,000 after purchasing an additional 3,835 shares in the last quarter.

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.