Evolent Health (NYSE:EVH) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Shares of Evolent Health, Inc (NYSE:EVH) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $2.77 and traded as high as $3.28. Evolent Health shares last traded at $3.1050, with a volume of 1,550,038 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EVH shares. BMO Capital Markets reissued an “outperform” rating and issued a $3.50 price objective on shares of Evolent Health in a research report on Wednesday, February 25th. Wall Street Zen raised shares of Evolent Health from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evolent Health in a research report on Friday, March 27th. Oppenheimer dropped their price target on shares of Evolent Health from $12.00 to $6.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. Finally, Royal Bank Of Canada dropped their price target on shares of Evolent Health from $5.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 25th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.04.

Evolent Health Price Performance

The company has a debt-to-equity ratio of 2.34, a current ratio of 1.31 and a quick ratio of 1.31. The company’s 50-day simple moving average is $2.78 and its 200-day simple moving average is $4.05. The stock has a market capitalization of $346.53 million, a P/E ratio of -0.60 and a beta of 0.37.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Tuesday, February 24th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. Evolent Health had a negative net margin of 28.49% and a positive return on equity of 1.49%. The firm had revenue of $468.72 million for the quarter, compared to analyst estimates of $468.48 million. During the same period in the prior year, the firm posted ($0.02) earnings per share. The company’s quarterly revenue was down 27.5% compared to the same quarter last year. As a group, sell-side analysts expect that Evolent Health, Inc will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC acquired a new position in shares of Evolent Health in the fourth quarter valued at $3,927,000. Eventide Asset Management LLC increased its holdings in shares of Evolent Health by 54.0% in the third quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company’s stock valued at $53,246,000 after purchasing an additional 2,205,659 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of Evolent Health by 174.4% in the third quarter. Tudor Investment Corp ET AL now owns 689,262 shares of the technology company’s stock valued at $5,831,000 after purchasing an additional 438,095 shares during the last quarter. Counterpoint Mutual Funds LLC increased its holdings in shares of Evolent Health by 21.4% in the third quarter. Counterpoint Mutual Funds LLC now owns 56,337 shares of the technology company’s stock valued at $477,000 after purchasing an additional 9,945 shares during the last quarter. Finally, Raiffeisen Bank International AG increased its holdings in shares of Evolent Health by 7.1% in the third quarter. Raiffeisen Bank International AG now owns 150,000 shares of the technology company’s stock valued at $1,316,000 after purchasing an additional 10,000 shares during the last quarter.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.