Evolent Health, Inc. (NYSE:EVH) Receives Consensus Rating of “Buy” from Brokerages

Evolent Health, Inc. (NYSE:EVH) has been assigned a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $26.18.

A number of research firms have recently commented on EVH. BTIG Research cut their target price on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Citigroup cut their price objective on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Evolent Health in a report on Tuesday, November 12th. Stephens cut shares of Evolent Health from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $38.00 to $16.00 in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered their price objective on Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd.

Evolent Health Stock Performance

Evolent Health stock opened at $10.98 on Thursday. Evolent Health has a twelve month low of $10.53 and a twelve month high of $35.00. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.28 billion, a P/E ratio of -12.07 and a beta of 1.45. The stock’s 50 day moving average is $15.20 and its 200 day moving average is $21.73.

Hedge Funds Weigh In On Evolent Health

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its position in Evolent Health by 12.8% during the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after acquiring an additional 1,426,747 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Evolent Health by 1,948.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after purchasing an additional 1,422,385 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Evolent Health by 35.2% during the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after purchasing an additional 1,308,376 shares during the last quarter. First Light Asset Management LLC lifted its stake 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 period. Finally, Bellevue Group AG boosted its holdings in shares of Evolent Health by 59.9% in the third quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after buying an additional 1,000,215 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.