Evolent Health (NYSE:EVH) Shares Up 4.9% – Here’s Why

Shares of Evolent Health, Inc. (NYSE:EVH) traded up 4.9% on Thursday . The stock traded as high as $11.35 and last traded at $11.24. 1,790,056 shares changed hands during mid-day trading, a decline of 3% from the average session volume of 1,854,646 shares. The stock had previously closed at $10.71.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EVH. Truist Financial restated a “buy” rating and set a $33.00 target price on shares of Evolent Health in a report on Tuesday, August 27th. KeyCorp assumed coverage on Evolent Health in a research report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price target for the company. Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $38.00 to $16.00 in a research report on Friday, November 8th. Citigroup reduced their target price on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price target on shares of Evolent Health in a research report on Tuesday, November 12th. One investment 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.com, Evolent Health presently has a consensus rating of “Buy” and an average target price of $26.18.

Evolent Health Trading Up 2.1 %

The company has a 50 day simple moving average of $16.65 and a 200 day simple moving average of $22.16. The company has a market capitalization of $1.33 billion, a PE ratio of -12.54 and a beta of 1.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.

Institutional Investors Weigh In On Evolent Health

Large investors have recently made changes to their positions in the stock. Royce & Associates LP purchased a new stake in shares of Evolent Health in the third quarter valued at about $7,070,000. Foundry Partners LLC purchased a new stake in shares of Evolent Health in the 3rd quarter valued at approximately $10,042,000. Harbor Capital Advisors Inc. increased its holdings in shares of Evolent Health by 140.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock worth $11,946,000 after buying an additional 246,400 shares during the last quarter. Engaged Capital LLC raised its position in shares of Evolent Health by 26.1% during the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after buying an additional 850,000 shares during the period. Finally, Bellevue Group AG raised its position in shares of Evolent Health by 59.9% during the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock valued at $75,509,000 after buying an additional 1,000,215 shares during the period.

Evolent Health Company Profile

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.