Evolent Health (NYSE:EVH) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Evolent Health (NYSE:EVH) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $15.00 price objective on the technology company’s stock.

EVH has been the subject of a number of other research reports. Royal Bank of Canada dropped their price objective on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. JMP Securities dropped their price objective on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating for the company in a report on Friday, January 10th. Citigroup dropped their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, January 10th. Oppenheimer dropped their price objective on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Barclays decreased their target price on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Evolent Health has an average rating of “Buy” and a consensus price target of $18.38.

Evolent Health Trading Down 2.6 %

Shares of EVH opened at $9.60 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. Evolent Health has a 12-month low of $9.45 and a 12-month high of $35.00. The firm has a 50-day moving average price of $10.91 and a 200 day moving average price of $19.43.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of Evolent Health by 12.8% in 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 purchasing an additional 1,426,747 shares during the period. Vanguard Group Inc. lifted its stake in Evolent Health by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock worth $125,676,000 after acquiring an additional 259,781 shares during the last quarter. Eventide Asset Management LLC lifted its stake in Evolent Health by 1.7% in the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock worth $107,580,000 after acquiring an additional 64,985 shares during the last quarter. State Street Corp lifted its stake in Evolent Health by 1.0% in the third quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock worth $77,074,000 after acquiring an additional 25,967 shares during the last quarter. Finally, Bellevue Group AG lifted its stake in 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 acquiring 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.