Brokerages Set Evolent Health Inc (EVH) Price Target at $27.50

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Shares of Evolent Health Inc (NYSE:EVH) have received a consensus rating of “Buy” from the fifteen research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $27.50.

A number of analysts have commented on EVH shares. Zacks Investment Research downgraded Evolent Health from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. ValuEngine downgraded Evolent Health from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. TheStreet downgraded Evolent Health from a “c-” rating to a “d+” rating in a research report on Friday, February 22nd. Cantor Fitzgerald reduced their price objective on Evolent Health from $37.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, February 27th. Finally, Wells Fargo & Co reduced their price objective on Evolent Health from $34.00 to $21.50 and set an “outperform” rating for the company in a research report on Wednesday, February 27th.

A number of large investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans lifted its holdings in shares of Evolent Health by 0.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 198,933 shares of the technology company’s stock valued at $3,969,000 after purchasing an additional 751 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Evolent Health by 57.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,628 shares of the technology company’s stock valued at $72,000 after buying an additional 1,327 shares during the period. Redmond Asset Management LLC increased its stake in shares of Evolent Health by 2.3% in the 1st quarter. Redmond Asset Management LLC now owns 70,171 shares of the technology company’s stock valued at $883,000 after buying an additional 1,592 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Evolent Health by 7.6% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 24,749 shares of the technology company’s stock valued at $494,000 after buying an additional 1,758 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Evolent Health by 7.1% during the fourth quarter. Legal & General Group Plc now owns 27,695 shares of the technology company’s stock worth $553,000 after purchasing an additional 1,838 shares during the period. 99.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of EVH stock traded down $0.05 during mid-day trading on Friday, reaching $14.15. The stock had a trading volume of 19,757 shares, compared to its average volume of 785,260. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.24. Evolent Health has a one year low of $12.09 and a one year high of $29.05. The company has a market capitalization of $1.14 billion, a P/E ratio of -40.03 and a beta of 1.26.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.38) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.02. Evolent Health had a negative return on equity of 4.80% and a negative net margin of 12.52%. The company had revenue of $197.80 million during the quarter, compared to the consensus estimate of $192.65 million. During the same quarter last year, the company earned $0.02 EPS. The company’s quarterly revenue was up 41.6% on a year-over-year basis. Sell-side analysts predict that Evolent Health will post -0.8 earnings per share for the current fiscal year.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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