Evolent Health (NYSE:EVH) Research Coverage Started at Citigroup

Citigroup assumed coverage on shares of Evolent Health (NYSE:EVH) in a research note published on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $40.00 price target on the technology company’s stock.

Several other equities analysts have also recently commented on EVH. William Blair restated an outperform rating on shares of Evolent Health in a report on Tuesday, January 9th. Canaccord Genuity Group dropped their target price on Evolent Health from $45.00 to $44.00 and set a buy rating on the stock in a research report on Thursday, March 28th. Barclays started coverage on Evolent Health in a report on Wednesday, January 3rd. They set an overweight rating and a $39.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on Evolent Health from $53.00 to $52.00 and set an overweight rating on the stock in a report on Friday, March 15th. Finally, Oppenheimer started coverage on shares of Evolent Health in a research note on Friday, March 1st. They issued an outperform rating and a $45.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $42.70.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $28.30 on Monday. The stock has a market cap of $3.27 billion, a PE ratio of -22.30 and a beta of 1.53. Evolent Health has a 52 week low of $23.33 and a 52 week high of $36.70. The company’s 50-day moving average price is $31.90 and its two-hundred day moving average price is $30.28. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, February 22nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.13. The company had revenue of $556.06 million for the quarter, compared to analyst estimates of $541.87 million. Evolent Health had a positive return on equity of 6.60% and a negative net margin of 5.76%. As a group, sell-side analysts anticipate that Evolent Health will post 0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Peregrine Capital Management LLC increased its position in shares of Evolent Health by 3.8% during the third quarter. Peregrine Capital Management LLC now owns 358,788 shares of the technology company’s stock valued at $9,770,000 after purchasing an additional 12,973 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Evolent Health by 13.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 68,656 shares of the technology company’s stock valued at $1,870,000 after buying an additional 8,108 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Evolent Health by 8.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,655,609 shares of the technology company’s stock valued at $45,082,000 after buying an additional 133,038 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Evolent Health by 17.8% during the 3rd quarter. Brown Advisory Inc. now owns 36,870 shares of the technology company’s stock worth $1,004,000 after acquiring an additional 5,564 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Evolent Health by 20.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,678 shares of the technology company’s stock worth $563,000 after acquiring an additional 3,514 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.