Evolent Health (NYSE:EVH) Raised to Hold at Zacks Research

Evolent Health (NYSE:EVH) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts also recently commented on EVH. Piper Sandler boosted their price target on Evolent Health from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. BTIG Research decreased their price objective on shares of Evolent Health from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Truist Financial lowered their price objective on shares of Evolent Health from $16.00 to $10.00 and set a “buy” rating for the company in a research report on Monday. Stephens reaffirmed an “equal weight” rating and issued a $9.00 target price on shares of Evolent Health in a report on Wednesday, September 24th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price target on shares of Evolent Health in a research note on Tuesday, September 9th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.46.

Evolent Health Trading Up 1.6%

EVH stock opened at $5.03 on Monday. Evolent Health has a 52 week low of $4.62 and a 52 week high of $15.56. The company has a market capitalization of $591.07 million, a PE ratio of -3.12 and a beta of 0.58. The company’s 50-day simple moving average is $7.98 and its 200 day simple moving average is $8.99. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.01.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. acquired a new stake in Evolent Health during the 3rd quarter worth approximately $100,000. Counterpoint Mutual Funds LLC lifted its holdings in shares of Evolent Health by 21.4% during the third quarter. Counterpoint Mutual Funds LLC now owns 56,337 shares of the technology company’s stock worth $477,000 after purchasing an additional 9,945 shares during the period. Raiffeisen Bank International AG grew its stake 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 worth $1,316,000 after purchasing an additional 10,000 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Evolent Health in the third quarter valued at $144,000. Finally, Vanguard Group Inc. raised its position in Evolent Health by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 10,966,830 shares of the technology company’s stock worth $92,779,000 after purchasing an additional 45,299 shares during 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.