Stephens Upgrades Evolent Health (NYSE:EVH) to “Overweight”

Evolent Health (NYSE:EVH) was upgraded by investment analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $7.00 price objective on the technology company’s stock. Stephens’ target price indicates a potential upside of 68.07% from the company’s previous close.

Several other analysts also recently weighed in on EVH. Oppenheimer cut their price target on Evolent Health from $18.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday. Citizens Jmp dropped their target price on Evolent Health from $13.00 to $11.00 and set a “market outperform” rating on the stock in a report on Monday, November 10th. Canaccord Genuity Group restated a “buy” rating and set a $16.00 price target on shares of Evolent Health in a report on Tuesday, September 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evolent Health in a research report on Wednesday, October 8th. Finally, Truist Financial dropped their price target on shares of Evolent Health from $16.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Evolent Health presently has an average rating of “Moderate Buy” and a consensus target price of $12.86.

Evolent Health Stock Up 0.1%

Shares of Evolent Health stock opened at $4.17 on Thursday. Evolent Health has a 1 year low of $4.01 and a 1 year high of $13.61. The firm has a market cap of $489.42 million, a price-to-earnings ratio of -2.59 and a beta of 0.58. The company has a 50-day moving average of $7.66 and a 200 day moving average of $8.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.01 and a quick ratio of 1.01.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.21 earnings per share for the quarter. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. The business had revenue of $427.70 million for the quarter. As a group, sell-side analysts anticipate that Evolent Health will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC bought a new stake in shares of Evolent Health in the fourth quarter worth approximately $3,927,000. Teacher Retirement System of Texas bought a new position in Evolent Health during the first quarter valued at approximately $137,000. Signaturefd LLC boosted its holdings in Evolent Health by 400.6% in the first quarter. Signaturefd LLC now owns 7,043 shares of the technology company’s stock worth $67,000 after purchasing an additional 5,636 shares during the last quarter. Hussman Strategic Advisors Inc. grew its position in Evolent Health by 66.7% in the 1st quarter. Hussman Strategic Advisors Inc. now owns 105,000 shares of the technology company’s stock worth $994,000 after purchasing an additional 42,000 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in Evolent Health by 48.9% during the 1st quarter. Allianz Asset Management GmbH now owns 68,541 shares of the technology company’s stock valued at $649,000 after buying an additional 22,514 shares during the last quarter.

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.