Evolent Health (NYSE:EVH) Rating Reiterated by Royal Bank of Canada

by · The Cerbat Gem

Royal Bank of Canada reiterated their outperform rating on shares of Evolent Health (NYSE:EVH – Free Report) in a report issued on Tuesday, Benzinga reports. They currently have a $42.00 target price on the technology company’s stock.

Several other brokerages have also recently issued reports on EVH. JMP Securities dropped their price objective on shares of Evolent Health from $34.00 to $31.00 and set a market outperform rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on Evolent Health from $36.00 to $45.00 and gave the company an overweight rating in a research note on Monday, August 19th. Stephens restated an overweight rating and set a $42.00 target price on shares of Evolent Health in a research report on Tuesday, July 30th. Finally, Truist Financial reissued a buy rating and set a $33.00 price objective on shares of Evolent Health in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $39.91.

Check Out Our Latest Stock Analysis on Evolent Health

Evolent Health Trading Up 1.0 %

NYSE:EVH opened at $27.08 on Tuesday. 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. The stock’s 50 day moving average price is $28.41 and its 200 day moving average price is $25.86. The company has a market capitalization of $3.15 billion, a PE ratio of -28.81 and a beta of 1.56.

Evolent Health (NYSE:EVH – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $636.46 million. During the same quarter in the prior year, the business earned $0.06 EPS. Evolent Health’s quarterly revenue was up 37.9% compared to the same quarter last year. On average, research analysts anticipate that Evolent Health will post 0.86 EPS for the current year.

Insider Transactions at Evolent Health

In related news, General Counsel Jonathan Weinberg sold 42,140 shares of the business’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 completion of the transaction, the general counsel now owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. The trade was 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, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total value of $1,314,768.00. Following the completion of the transaction, the general counsel now directly owns 167,027 shares in the company, valued at approximately $5,211,242.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Seth Blackley sold 187,904 shares of Evolent Health stock in a transaction on Thursday, August 22nd. The shares were 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 of the company’s stock, valued at approximately $12,357,720. This represents a 0.00 % 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 over the last three months. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Evolent Health

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning increased its holdings in shares of Evolent Health by 139.1% during the 3rd quarter. Creative Planning now owns 43,262 shares of the technology company’s stock worth $1,223,000 after buying an additional 25,171 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after purchasing an additional 1,556 shares during the period. Park Avenue Securities LLC acquired a new position in shares of Evolent Health in the 3rd quarter valued at about $212,000. SG Americas Securities LLC purchased a new stake in shares of Evolent Health during the 3rd quarter worth about $891,000. Finally, Point72 DIFC Ltd acquired a new stake in Evolent Health during the 2nd quarter worth approximately $148,000.

About Evolent Health

(Get Free Report)

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.

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