Evolent Health, Inc. (NYSE:EVH) Given Consensus Recommendation of “Buy” by Brokerages

Evolent Health, Inc. (NYSE:EVH) has earned a consensus rating of “Buy” from the twelve research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $30.70.

EVH has been the topic of several recent analyst reports. Barclays dropped their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price target on shares of Evolent Health in a research report on Tuesday. JPMorgan Chase & Co. upped 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. Truist Financial reissued a “buy” rating and set a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. Finally, JMP Securities lowered their price target on 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.

Insider Buying and Selling at Evolent Health

In related news, CEO Seth Blackley sold 187,904 shares of the firm’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 $5,637,120.00. Following the completion of the transaction, the chief executive officer now owns 411,924 shares in the company, valued at $12,357,720. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Evolent Health news, President Daniel Joseph Mccarthy sold 23,693 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the sale, the president now directly owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Seth Blackley sold 187,904 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the completion of the transaction, the chief executive officer now owns 411,924 shares of the company’s stock, valued at $12,357,720. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 307,291 shares of company stock valued at $9,290,385. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in Evolent Health in the second quarter worth $32,000. Covestor Ltd lifted its position in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after buying an additional 826 shares in the last quarter. GAMMA Investing LLC grew its holdings in Evolent Health by 5,365.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after acquiring an additional 1,556 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Evolent Health in the 1st quarter valued at about $46,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Evolent Health in the second quarter worth about $61,000.

Evolent Health Trading Down 4.6 %

Evolent Health stock opened at $14.44 on Wednesday. Evolent Health has a 52 week low of $13.31 and a 52 week high of $35.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $1.68 billion, a PE ratio of -15.87 and a beta of 1.58. The business’s 50-day simple moving average is $26.17 and its 200-day simple moving average is $24.61.

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.