Evolent Health, Inc (NYSE:EVH – Get Free Report) shares passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $3.99 and traded as low as $3.32. Evolent Health shares last traded at $3.4740, with a volume of 1,772,512 shares trading hands.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on EVH shares. Truist Financial reduced their target price on shares of Evolent Health from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, August 12th. Weiss Ratings upgraded Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. TD Cowen raised their target price on shares of Evolent Health from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Citigroup raised shares of Evolent Health from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $6.75 to $6.00 in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Evolent Health from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.96.
Read Our Latest Research Report on Evolent Health
Evolent Health Price Performance
Evolent Health (NYSE:EVH – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $484.50 million during the quarter, compared to analyst estimates of $597.70 million. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%.Evolent Health’s quarterly revenue was up 46.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.10) EPS. On average, analysts expect that Evolent Health, Inc will post -0.25 earnings per share for the current year.
Insider Buying and Selling at Evolent Health
In related news, President Daniel Mccarthy sold 65,892 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $5.00, for a total transaction of $329,460.00. Following the transaction, the president directly owned 655,133 shares of the company’s stock, valued at $3,275,665. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.48% of the stock is owned by insiders.
Hedge Funds Weigh In On Evolent Health
Several hedge funds have recently modified their holdings of the company. HB Wealth Management LLC raised its stake in shares of Evolent Health by 6.8% in the second quarter. HB Wealth Management LLC now owns 35,842 shares of the technology company’s stock worth $194,000 after purchasing an additional 2,282 shares during the last quarter. WINTON GROUP Ltd boosted its position in shares of Evolent Health by 29.6% during the second quarter. WINTON GROUP Ltd now owns 26,700 shares of the technology company’s stock valued at $145,000 after buying an additional 6,100 shares during the last quarter. Wealthfront Advisers LLC boosted its position in shares of Evolent Health by 40.8% during the first quarter. Wealthfront Advisers LLC now owns 28,083 shares of the technology company’s stock valued at $64,000 after buying an additional 8,136 shares during the last quarter. Royal Bank of Canada increased its holdings in Evolent Health by 51.6% in the 1st quarter. Royal Bank of Canada now owns 25,161 shares of the technology company’s stock worth $57,000 after buying an additional 8,563 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Evolent Health in the 1st quarter worth about $26,000.
Evolent Health Company Profile
Evolent Health, Inc is a healthcare services and technology company that helps health plans and providers manage specialty care and transition to value-based models. Its offerings are designed to coordinate care, improve clinical outcomes and support more predictable healthcare costs across complex medical conditions.
The company provides technology-enabled administrative, clinical and analytical services for areas such as oncology, cardiology, musculoskeletal care and other specialty-care categories.
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