Evolent Health (NYSE:EVH) Shares Up 8.5%

Evolent Health, Inc. (NYSE:EVH) shares shot up 8.5% during trading on Tuesday . The company traded as high as $21.14 and last traded at $20.90. 2,158,845 shares changed hands during trading, an increase of 67% from the average session volume of 1,293,148 shares. The stock had previously closed at $19.26.

Wall Street Analyst Weigh In

EVH has been the topic of a number of recent research reports. Canaccord Genuity Group cut their price objective 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. JMP Securities dropped their target price on shares of Evolent Health from $38.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Friday, May 10th. Finally, Citigroup initiated coverage on shares of Evolent Health in a research report on Monday, April 22nd. They set a “buy” rating and a $40.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Evolent Health Stock Up 12.7 %

The business has a 50-day moving average of $22.06 and a 200 day moving average of $28.00. The company has a market capitalization of $2.52 billion, a PE ratio of -17.38 and a beta of 1.54. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.

Evolent Health (NYSE:EVH) last released 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. Evolent Health had a negative net margin of 5.07% and a positive return on equity of 6.90%. The business had revenue of $639.65 million during the quarter, compared to analyst estimates of $601.60 million. Equities research analysts predict that Evolent Health, Inc. will post 0.9 earnings per share for the current year.

Institutional Investors Weigh In On Evolent Health

Several hedge funds and other institutional investors have recently modified their holdings of the business. ICA Group Wealth Management LLC purchased a new stake in Evolent Health in the 4th quarter valued at about $33,000. Headlands Technologies LLC bought a new stake in shares of Evolent Health during the first quarter valued at approximately $46,000. Signaturefd LLC boosted its holdings in shares of Evolent Health by 1,470.7% in the fourth quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock valued at $48,000 after purchasing an additional 1,353 shares during the period. NBC Securities Inc. bought a new position in Evolent Health in the fourth quarter worth approximately $69,000. Finally, Banque Cantonale Vaudoise bought a new position in Evolent Health in the first quarter worth approximately $88,000.

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.