Evolent Health (NYSE:EVH) Sees Unusually-High Trading Volume

Evolent Health, Inc. (NYSE:EVH) shares saw unusually-high trading volume on Thursday . Approximately 2,742,652 shares changed hands during mid-day trading, an increase of 115% from the previous session’s volume of 1,273,373 shares.The stock last traded at $19.97 and had previously closed at $19.11.

Analysts Set New Price Targets

EVH has been the subject of several analyst reports. Canaccord Genuity Group decreased their target price on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Citigroup assumed coverage on shares of Evolent Health in a research note on Monday, April 22nd. They set a “buy” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on shares of Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Finally, JMP Securities lowered their price target on Evolent Health from $38.00 to $34.00 and set a “market outperform” rating on the stock in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Evolent Health currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Evolent Health Trading Up 2.6 %

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $2.28 billion, a P/E ratio of -15.69 and a beta of 1.54. The business has a 50-day moving average price of $22.53 and a two-hundred day moving average price of $28.31.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, May 9th. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The company had revenue of $639.65 million during the quarter, compared to analysts’ expectations of $601.60 million. Evolent Health had a negative net margin of 5.07% and a positive return on equity of 6.90%. On average, analysts expect that Evolent Health, Inc. will post 0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EVH. ICA Group Wealth Management LLC acquired a new stake in shares of Evolent Health during the 4th quarter valued at $33,000. Headlands Technologies LLC bought a new position in Evolent Health in the first quarter valued at about $46,000. Signaturefd LLC boosted its stake in shares of Evolent Health by 1,470.7% during the fourth quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock valued at $48,000 after purchasing an additional 1,353 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Evolent Health in the fourth quarter valued at approximately $69,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Evolent Health during the 1st quarter worth approximately $88,000.

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.