Evolent Health (NYSE:EVH) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Evolent Health (NYSE:EVH) in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a $20.00 price target on the technology company’s stock.

EVH has been the topic of a number of other reports. Truist Financial restated a “buy” rating and issued a $33.00 price objective on shares of Evolent Health in a research note on Tuesday, August 27th. Oppenheimer dropped their price target on Evolent Health from $45.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Stephens downgraded shares of Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $38.00 to $16.00 in a report on Friday, November 8th. JPMorgan Chase & Co. raised their price objective 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. Finally, Citigroup lowered their price objective on Evolent Health from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $29.50.

Evolent Health Stock Down 1.8 %

Evolent Health stock traded down $0.23 during mid-day trading on Tuesday, hitting $12.44. The company had a trading volume of 499,552 shares, compared to its average volume of 1,759,902. The business has a fifty day moving average of $25.47 and a 200 day moving average of $24.45. Evolent Health has a 1 year low of $12.31 and a 1 year high of $35.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.08 and a current ratio of 1.04.

Insiders Place Their Bets

In related news, CFO John Paul Johnson sold 44,693 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 transaction of $1,340,790.00. Following the sale, the chief financial officer now owns 171,207 shares of the company’s stock, valued at $5,136,210. The trade was a 20.70 % decrease in their ownership of the stock. 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 business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 411,924 shares in the company, valued at $12,357,720. This represents a 31.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 307,291 shares of company stock valued at $9,290,385 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Large investors have recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in shares of Evolent Health during the 1st quarter worth $528,000. Oppenheimer & Co. Inc. purchased a new position in Evolent Health during the 1st quarter valued at about $459,000. Headlands Technologies LLC acquired a new position in shares of Evolent Health in the 1st quarter valued at about $46,000. Qsemble Capital Management LP acquired a new stake in shares of Evolent Health during the 1st quarter valued at $241,000. Finally, ProShare Advisors LLC boosted its holdings in Evolent Health by 10.8% in the first quarter. ProShare Advisors LLC now owns 20,198 shares of the technology company’s stock worth $662,000 after purchasing an additional 1,962 shares in the last quarter.

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.