JPMorgan Chase & Co. Boosts Evolent Health (NYSE:EVH) Price Target to $45.00

Evolent Health (NYSE:EVH) had its price target lifted by JPMorgan Chase & Co. from $36.00 to $45.00 in a report released on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the stock. JMP Securities dropped their price objective on shares of 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. Citigroup started coverage on shares of Evolent Health in a research note on Monday, April 22nd. They set a buy rating and a $40.00 price target on the stock. Canaccord Genuity Group cut their price target on shares of Evolent Health from $44.00 to $41.00 and set a buy rating for the company in a report on Friday, May 10th. Stephens reaffirmed an overweight rating and issued a $42.00 price objective on shares of Evolent Health in a report on Tuesday, July 30th. Finally, Truist Financial raised Evolent Health from a hold rating to a buy rating and increased their target price for the stock from $28.00 to $33.00 in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Evolent Health currently has an average rating of Moderate Buy and a consensus price target of $40.40.

Evolent Health Price Performance

Shares of NYSE:EVH opened at $32.14 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. Evolent Health has a one year low of $17.98 and a one year high of $35.00. The company has a 50-day simple moving average of $22.06 and a 200-day simple moving average of $26.53. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of -25.71 and a beta of 1.54.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.21 by $0.09. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. The firm had revenue of $647.10 million during the quarter, compared to the consensus estimate of $636.46 million. During the same period in the prior year, the business earned $0.06 EPS. The firm’s revenue was up 37.9% compared to the same quarter last year. On average, analysts predict that Evolent Health will post 0.9 EPS for the current year.

Institutional Trading of Evolent Health

Several large investors have recently bought and sold shares of the company. Scout Investments Inc. acquired a new stake in Evolent Health in the 1st quarter valued at about $5,760,000. Zevenbergen Capital Investments LLC grew its position in shares of Evolent Health by 126.5% in the first quarter. Zevenbergen Capital Investments LLC now owns 565,625 shares of the technology company’s stock valued at $18,547,000 after purchasing an additional 315,875 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Evolent Health by 86.7% during the 1st quarter. BNP Paribas Financial Markets now owns 99,126 shares of the technology company’s stock worth $3,250,000 after purchasing an additional 46,024 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Evolent Health by 11.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 717,334 shares of the technology company’s stock worth $23,522,000 after purchasing an additional 75,376 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Evolent Health during the 4th quarter worth approximately $43,759,000.

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.