Evolent Health (NYSE:EVH) Trading Up 4.9% – Here’s Why

Evolent Health, Inc. (NYSE:EVH) shares traded up 4.9% on Thursday . The stock traded as high as $11.35 and last traded at $11.24. 1,790,056 shares were traded during mid-day trading, a decline of 3% from the average session volume of 1,854,646 shares. The stock had previously closed at $10.71.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EVH. Barclays reduced their target price on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Oppenheimer lowered their target price on Evolent Health from $34.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, November 18th. Truist Financial restated a “buy” rating and set a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. Citigroup dropped their price objective on Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Finally, KeyCorp started coverage on shares of Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price target for the company. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Evolent Health currently has an average rating of “Buy” and a consensus price target of $26.18.

Evolent Health Stock Performance

The stock’s 50-day moving average is $17.28 and its 200 day moving average is $22.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $1.30 billion, a P/E ratio of -12.30 and a beta of 1.45.

Institutional Trading of Evolent Health

Large investors have recently bought and sold shares of the business. Royce & Associates LP acquired a new position in shares of Evolent Health in the third quarter valued at approximately $7,070,000. Foundry Partners LLC acquired a new position in Evolent Health in the 3rd quarter worth $10,042,000. Harbor Capital Advisors Inc. increased its holdings in Evolent Health by 140.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock worth $11,946,000 after purchasing an additional 246,400 shares in the last quarter. Engaged Capital LLC increased its holdings in Evolent Health by 26.1% during the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after purchasing an additional 850,000 shares in the last quarter. Finally, Bellevue Group AG raised its stake in shares of Evolent Health by 59.9% in the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock valued at $75,509,000 after purchasing an additional 1,000,215 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.