Evolent Health (NYSE:EVH) Stock Price Up 6.1% – What’s Next?

Evolent Health, Inc. (NYSE:EVH)’s share price was up 6.1% during mid-day trading on Friday . The company traded as high as $24.16 and last traded at $24.16. Approximately 192,455 shares traded hands during trading, a decline of 88% from the average daily volume of 1,615,184 shares. The stock had previously closed at $22.77.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EVH. KeyCorp initiated coverage on Evolent Health in a report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective on the stock. JMP Securities reduced their price objective on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Truist Financial restated a “buy” rating and set a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. Stephens reissued an “overweight” rating and set a $42.00 price target on shares of Evolent Health in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of Evolent Health in a research note on Tuesday, October 8th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Evolent Health has a consensus rating of “Buy” and an average target price of $39.30.

Evolent Health Trading Up 7.7 %

The firm has a fifty day moving average of $28.49 and a 200 day moving average of $25.42. The firm has a market capitalization of $2.85 billion, a PE ratio of -19.33 and a beta of 1.56. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08.

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

Insider Activity

In other news, General Counsel Jonathan Weinberg sold 42,140 shares of the company’s stock in a transaction dated 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 owns 167,027 shares in the company, valued at approximately $5,211,242.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Evolent Health 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 completion of the transaction, the president now directly owns 198,809 shares of the company’s stock, valued at $6,141,210.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Jonathan Weinberg sold 42,140 shares of Evolent Health stock in a transaction 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 $5,211,242.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 307,291 shares of company stock worth $9,290,385. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Evolent Health

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Evolent Health by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 10,821,331 shares of the technology company’s stock worth $357,429,000 after purchasing an additional 226,691 shares during the period. Hodges Capital Management Inc. increased its position in shares of Evolent Health by 78.3% in the first quarter. Hodges Capital Management Inc. now owns 474,746 shares of the technology company’s stock worth $15,567,000 after acquiring an additional 208,534 shares in the last quarter. First Dallas Securities Inc. purchased a new position in shares of Evolent Health during the first quarter valued at $256,000. WoodTrust Financial Corp raised its position in Evolent Health by 3.2% during the first quarter. WoodTrust Financial Corp now owns 44,200 shares of the technology company’s stock valued at $1,449,000 after buying an additional 1,350 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Evolent Health by 18.9% during the 1st quarter. Principal Financial Group Inc. now owns 15,114 shares of the technology company’s stock worth $496,000 after acquiring an additional 2,398 shares during the period.

About Evolent Health

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.