Evolent Health (NYSE:EVH) Trading Up 7.9% – Should You Buy?

Evolent Health, Inc (NYSE:EVH)’s share price rose 7.9% on Monday . The company traded as high as $4.42 and last traded at $4.5550. Approximately 251,543 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 2,976,243 shares. The stock had previously closed at $4.22.

Wall Street Analyst Weigh In

EVH has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Evolent Health from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. UBS Group reduced their price objective on shares of Evolent Health from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Citigroup increased their price objective on shares of Evolent Health from $4.00 to $5.50 and gave the stock a “buy” rating in a research report on Friday, May 15th. Canaccord Genuity Group increased their price objective on shares of Evolent Health from $4.00 to $6.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $3.50 price objective on shares of Evolent Health in a research report on Wednesday, February 25th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $6.00.

Evolent Health Price Performance

The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $543.84 million, a P/E ratio of -1.01 and a beta of 0.84. The stock’s 50 day simple moving average is $3.35 and its 200 day simple moving average is $3.46.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The business had revenue of $496.25 million for the quarter, compared to the consensus estimate of $534.00 million. Evolent Health had a negative net margin of 26.29% and a positive return on equity of 0.36%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. As a group, analysts expect that Evolent Health, Inc will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Hedge funds have recently modified their holdings of the business. R Squared Ltd purchased a new stake in shares of Evolent Health in the 1st quarter worth approximately $26,000. CIBC Private Wealth Group LLC lifted its position in shares of Evolent Health by 4,000.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock worth $35,000 after purchasing an additional 4,000 shares during the period. Strs Ohio purchased a new stake in shares of Evolent Health in the 1st quarter worth approximately $47,000. Vise Technologies Inc. purchased a new stake in shares of Evolent Health in the 4th quarter worth approximately $50,000. Finally, Royal Bank of Canada lifted its position in shares of Evolent Health by 51.6% in the 1st quarter. Royal Bank of Canada now owns 25,161 shares of the technology company’s stock worth $57,000 after purchasing an additional 8,563 shares during the period.

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.