Evolent Health (NYSE:EVH) Stock Rating Upgraded by KeyCorp

KeyCorp upgraded shares of Evolent Health (NYSE:EVH) to a strong-buy rating in a research note issued to investors on Thursday morning, Zacks.com reports.

A number of other research firms have also recently issued reports on EVH. JMP Securities decreased their target price on Evolent Health from $34.00 to $31.00 and set a market outperform rating on the stock in a research report on Friday, August 9th. Stephens reaffirmed an overweight rating and set a $42.00 price target on shares of Evolent Health in a report on Tuesday, July 30th. Truist Financial restated a buy rating and issued a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. Royal Bank of Canada reiterated an outperform rating and set a $42.00 price target on shares of Evolent Health in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on Evolent Health from $36.00 to $45.00 and gave the company an overweight rating in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Evolent Health currently has an average rating of Moderate Buy and a consensus price target of $39.91.

Evolent Health Stock Performance

Shares of Evolent Health stock opened at $27.06 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market cap of $3.14 billion, a PE ratio of -21.65 and a beta of 1.56. The company has a 50 day moving average of $28.41 and a 200-day moving average of $25.82. Evolent Health has a 1-year low of $17.98 and a 1-year high of $35.00.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The firm had revenue of $647.10 million during the quarter, compared to analysts’ expectations of $636.46 million. During the same period in the prior year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 37.9% on a year-over-year basis. As a group, equities research analysts forecast that Evolent Health will post 0.86 earnings per share for the current fiscal year.

Insider Transactions at Evolent Health

In related news, CEO Seth Blackley sold 187,904 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 directly owns 411,924 shares in the company, valued at $12,357,720. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Evolent Health news, General Counsel Jonathan Weinberg sold 42,140 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the sale, the general counsel now owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Seth Blackley sold 187,904 shares of Evolent Health stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 307,291 shares of company stock worth $9,290,385 over the last ninety days. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Evolent Health

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Evolent Health by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock worth $357,905,000 after buying an additional 93,739 shares in the last quarter. Wellington Management Group LLP boosted its stake in Evolent Health by 96.1% during 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. RA Capital Management L.P. grew its holdings in Evolent Health by 125.0% in the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock worth $188,088,000 after purchasing an additional 3,187,000 shares during the period. William Blair Investment Management LLC increased its stake in Evolent Health by 35.2% in the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after purchasing an additional 1,308,376 shares in the last quarter. Finally, Engaged Capital LLC raised its holdings in shares of Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after purchasing an additional 850,000 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.