Evolent Health (NYSE:EVH) Coverage Initiated by Analysts at KeyCorp

KeyCorp began coverage on shares of Evolent Health (NYSE:EVH) in a research report sent to investors on Friday, Marketbeat.com reports. The firm issued an overweight rating and a $35.00 price target on the technology company’s stock.

Several other equities analysts also recently issued reports on EVH. 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 note on Monday, August 19th. JMP Securities cut their price target 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. Truist Financial reissued a buy rating and set a $33.00 price target on shares of Evolent Health in a research report on Tuesday, August 27th. Stephens reiterated an overweight rating and set a $42.00 price objective on shares of Evolent Health in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $42.00 target price on shares of Evolent Health in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $39.91.

Evolent Health Trading Up 1.0 %

NYSE:EVH opened at $27.06 on Friday. Evolent Health has a 1 year low of $17.98 and a 1 year high of $35.00. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of -21.66 and a beta of 1.56. The stock has a fifty day moving average price of $28.41 and a two-hundred day moving average price of $25.86. 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 issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.09. The firm had revenue of $647.10 million during the quarter, compared to the consensus estimate of $636.46 million. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The company’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 EPS. As a group, sell-side analysts anticipate that Evolent Health will post 0.86 earnings per share for the current fiscal year.

Insider Activity at Evolent Health

In other news, CEO Seth Blackley sold 187,904 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the sale, the chief executive officer now owns 411,924 shares in the company, valued at approximately $12,357,720. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Jonathan Weinberg sold 42,140 shares of the stock in a transaction that occurred on 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 sale, the general counsel now directly owns 167,027 shares in the company, valued at approximately $5,211,242.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 411,924 shares of the company’s stock, valued at approximately $12,357,720. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 307,291 shares of company stock valued at $9,290,385 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC acquired a new stake in shares of Evolent Health in the 4th quarter worth approximately $228,000. Wellington Management Group LLP raised its position in Evolent Health by 96.1% in the fourth quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock worth $274,584,000 after acquiring an additional 4,073,959 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Evolent Health by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 10,821,331 shares of the technology company’s stock valued at $357,429,000 after purchasing an additional 226,691 shares in the last quarter. NBC Securities Inc. raised its holdings in shares of Evolent Health by 16.6% in the 1st quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after purchasing an additional 350 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in Evolent Health during the first quarter valued at approximately $88,000.

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.