Evolent Health (NYSE:EVH) Trading Up 6.7% – Should You Buy?

Shares of Evolent Health, Inc. (NYSE:EVH) were up 6.7% on Tuesday . The company traded as high as $10.67 and last traded at $10.65. Approximately 784,951 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 2,348,501 shares. The stock had previously closed at $9.98.

Wall Street Analyst Weigh In

EVH has been the subject of a number of analyst reports. UBS Group decreased their price objective on Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Barclays decreased their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Truist Financial cut their price target on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Citigroup lowered their target price on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Oppenheimer reduced their price target on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Evolent Health presently has a consensus rating of “Buy” and a consensus price target of $18.38.

Evolent Health Trading Up 1.5 %

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.23 billion, a P/E ratio of -11.61 and a beta of 1.45. The business has a fifty day moving average price of $11.34 and a 200 day moving average price of $20.13.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, November 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.38). The firm had revenue of $621.40 million during the quarter, compared to the consensus estimate of $625.58 million. Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. During the same quarter in the previous year, the firm posted $0.19 EPS. On average, analysts expect that Evolent Health, Inc. will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EVH. R Squared Ltd acquired a new stake in shares of Evolent Health in the 4th quarter valued at approximately $31,000. Quarry LP bought a new position in shares of Evolent Health in the 2nd quarter valued at about $32,000. Covestor Ltd increased its stake in shares of 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 purchasing an additional 826 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 valued at $45,000 after purchasing an additional 1,556 shares during the period. Finally, KBC Group NV lifted its stake in Evolent Health by 124.6% in the 4th quarter. KBC Group NV now owns 6,741 shares of the technology company’s stock valued at $76,000 after purchasing an additional 3,739 shares during the last quarter.

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.