Brokerages Set Evolent Health, Inc. (NYSE:EVH) Target Price at $40.40

Shares of Evolent Health, Inc. (NYSE:EVH) have been assigned a consensus rating of “Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Twelve investment analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $40.40.

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Evolent Health in a report on Monday, August 26th. JPMorgan Chase & Co. increased their price objective on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Stephens restated an “overweight” rating and set a $42.00 target price on shares of Evolent Health in a report on Tuesday, July 30th. Truist Financial restated a “buy” rating and issued a $33.00 price target on shares of Evolent Health in a research report on Tuesday, August 27th. Finally, JMP Securities reduced their price objective on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th.

Insider Transactions at Evolent Health

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the sale, the chief executive officer now owns 411,924 shares of the company’s stock, valued at $12,357,720. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, President Daniel Joseph Mccarthy sold 23,693 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the completion of the transaction, the president now owns 198,809 shares in the company, valued at $6,141,210.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Seth Blackley sold 187,904 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the sale, the chief executive officer now owns 411,924 shares in the company, valued at $12,357,720. The disclosure for this sale can be found here. In the last three months, insiders have sold 307,291 shares of company stock worth $9,290,385. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Evolent Health

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Evolent Health by 0.9% in the first quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock valued at $357,905,000 after purchasing an additional 93,739 shares during the period. Wellington Management Group LLP boosted 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 valued at $274,584,000 after buying an additional 4,073,959 shares during the period. RA Capital Management L.P. grew its position in shares of Evolent Health by 125.0% during 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 buying an additional 3,187,000 shares in the last quarter. William Blair Investment Management LLC grew its position 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 worth $96,098,000 after buying an additional 1,308,376 shares in the last quarter. Finally, Engaged Capital LLC raised its holdings in Evolent Health by 26.1% in the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after acquiring an additional 850,000 shares in the last quarter.

Evolent Health Stock Performance

EVH opened at $31.04 on Tuesday. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -24.83 and a beta of 1.57. The firm’s fifty day simple moving average is $26.67 and its two-hundred day simple moving average is $26.41. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. Evolent Health has a 52-week low of $17.98 and a 52-week high of $35.00.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The firm had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. During the same period last year, the company posted $0.06 EPS. Evolent Health’s quarterly revenue was up 37.9% compared to the same quarter last year. Equities analysts anticipate that Evolent Health will post 0.86 earnings per share for the current fiscal year.

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.