Evolent Health (NYSE:EVH) Stock Price Up 5.5%

Evolent Health, Inc. (NYSE:EVH)’s stock price rose 5.5% during mid-day trading on Thursday . The company traded as high as $22.87 and last traded at $22.43. Approximately 235,497 shares traded hands during trading, a decline of 82% from the average daily volume of 1,336,786 shares. The stock had previously closed at $21.27.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JMP Securities dropped their price objective on Evolent Health from $38.00 to $34.00 and set a “market outperform” rating on the stock in a report on Friday, May 10th. Canaccord Genuity Group lowered their price target on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, Citigroup assumed coverage on shares of Evolent Health in a research note on Monday, April 22nd. They set a “buy” rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Evolent Health has an average rating of “Moderate Buy” and an average target price of $42.00.

Evolent Health Trading Up 7.4 %

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50 day moving average of $21.40 and a 200 day moving average of $27.44. The firm has a market cap of $2.65 billion, a P/E ratio of -18.11 and a beta of 1.54.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, May 9th. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm had revenue of $639.65 million for the quarter, compared to analyst estimates of $601.60 million. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. As a group, equities research analysts predict that Evolent Health, Inc. will post 0.9 EPS for the current year.

Institutional Trading of Evolent Health

Several institutional investors have recently added to or reduced their stakes in EVH. Vanguard Group Inc. boosted its holdings in Evolent Health by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 10,594,640 shares of the technology company’s stock valued at $288,492,000 after acquiring an additional 274,288 shares during the period. Genesee Capital Advisors LLC raised its holdings in Evolent Health by 2.2% during the 4th quarter. Genesee Capital Advisors LLC now owns 38,390 shares of the technology company’s stock valued at $1,268,000 after buying an additional 825 shares during the last quarter. Strs Ohio boosted its position in Evolent Health by 46.3% during the 4th quarter. Strs Ohio now owns 6,000 shares of the technology company’s stock valued at $198,000 after buying an additional 1,900 shares during the period. Mackenzie Financial Corp bought a new stake in Evolent Health in the 4th quarter worth $236,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Evolent Health by 12.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,355 shares of the technology company’s stock valued at $771,000 after acquiring an additional 2,677 shares during the period.

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.