Evolent Health (NYSE:EVH) Rating Increased to Strong-Buy at KeyCorp

by · The Markets Daily

Evolent Health (NYSE:EVH – Get Free Report) was upgraded by equities research analysts at KeyCorp to a “strong-buy” rating in a research report issued on Thursday, Zacks.com reports.

Several other equities research analysts have also recently weighed in on EVH. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Evolent Health in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Truist Financial reiterated a “buy” rating and issued a $33.00 price objective on shares of Evolent Health in a research report on Tuesday, August 27th. Stephens restated an “overweight” rating and set a $42.00 target price on shares of Evolent Health in a research report on Tuesday, July 30th. Finally, JMP Securities dropped their price target on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Evolent Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.91.

Get Our Latest Analysis on EVH

Evolent Health Price Performance

Evolent Health stock opened at $27.08 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. The business’s 50 day simple moving average is $28.41 and its 200 day simple moving average is $25.86. Evolent Health has a 12 month low of $17.98 and a 12 month high of $35.00. The company has a market cap of $3.15 billion, a price-to-earnings ratio of -21.66 and a beta of 1.56.

Evolent Health (NYSE:EVH – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The company had revenue of $647.10 million during the quarter, compared to analyst estimates of $636.46 million. During the same quarter last year, the firm posted $0.06 EPS. The firm’s revenue for the quarter was up 37.9% on a year-over-year basis. Sell-side analysts forecast that Evolent Health will post 0.86 EPS for the current year.

Insider Activity at Evolent Health

In other news, General Counsel Jonathan Weinberg sold 42,140 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the transaction, the general counsel now directly owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Daniel Joseph Mccarthy sold 23,693 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the transaction, the president now owns 198,809 shares in the company, valued at $6,141,210.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Jonathan Weinberg sold 42,140 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total value of $1,314,768.00. Following the sale, the general counsel now directly owns 167,027 shares in the company, valued at approximately $5,211,242.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 307,291 shares of company stock valued at $9,290,385. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Evolent Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Evolent Health by 96.1% in the 4th quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock worth $274,584,000 after buying an additional 4,073,959 shares during the last quarter. RA Capital Management L.P. grew its stake in shares of 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 acquiring an additional 3,187,000 shares during the last quarter. William Blair Investment Management LLC increased its holdings 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 acquiring an additional 1,308,376 shares in the last quarter. First Light Asset Management LLC raised its position in shares of Evolent Health by 401.5% in the 2nd quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock worth $27,634,000 after purchasing an additional 1,157,124 shares during the last quarter. Finally, Engaged Capital LLC boosted its stake in Evolent Health by 26.1% in the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after purchasing an additional 850,000 shares in the last quarter.

Evolent Health Company Profile

(Get Free Report)

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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