Royal Bank of Canada Reaffirms Outperform Rating for Evolent Health (NYSE:EVH)

Royal Bank of Canada restated their outperform rating on shares of Evolent Health (NYSE:EVH) in a report issued on Tuesday, Benzinga reports. The brokerage currently has a $42.00 target price on the technology company’s stock.

A number of other research firms have also recently weighed in on EVH. JPMorgan Chase & Co. upped their price objective on shares of Evolent Health from $36.00 to $45.00 and gave the stock an overweight rating in a research report on Monday, August 19th. JMP Securities reduced their price objective on shares of Evolent Health from $34.00 to $31.00 and set a market outperform rating for the company in a research report on Friday, August 9th. Stephens restated an overweight rating and set a $42.00 price objective on shares of Evolent Health in a research report on Tuesday, July 30th. Finally, Truist Financial restated a buy rating and set a $33.00 price objective on shares of Evolent Health in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $40.40.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $26.80 on Tuesday. The company’s fifty day moving average price is $28.32 and its 200 day moving average price is $25.90. Evolent Health has a 1 year low of $17.98 and a 1 year high of $35.00. The company has a market capitalization of $3.11 billion, a PE ratio of -21.44 and a beta of 1.56. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The firm had revenue of $647.10 million for the quarter, compared to the consensus estimate of $636.46 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The firm’s quarterly revenue was up 37.9% compared to the same quarter last year. On average, research analysts predict that Evolent Health will post 0.86 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the transaction, the general counsel now directly owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. 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 sold 307,291 shares of company stock worth $9,290,385. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EVH. Quarry LP purchased a new position in Evolent Health in the second quarter worth approximately $32,000. GAMMA Investing LLC lifted its stake in Evolent Health by 5,365.5% in the third 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 purchased a new position in Evolent Health in the first quarter worth approximately $46,000. Canada Pension Plan Investment Board purchased a new position in Evolent Health in the second quarter worth approximately $61,000. Finally, NBC Securities Inc. lifted its stake in Evolent Health by 16.6% in the first quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after acquiring an additional 350 shares during the last quarter.

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.