Evolent Health (NYSE:EVH) Earns Buy Rating from Analysts at Citigroup

Citigroup started coverage on shares of Evolent Health (NYSE:EVH) in a report issued on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $40.00 price objective on the technology company’s stock.

Other research analysts also recently issued reports about the stock. JMP Securities boosted their target price on shares of Evolent Health from $37.00 to $38.00 and gave the company a market outperform rating in a research report on Friday, February 23rd. Oppenheimer initiated coverage on Evolent Health in a report on Friday, March 1st. They issued an outperform rating and a $45.00 price objective for the company. William Blair reaffirmed an outperform rating on shares of Evolent Health in a report on Tuesday, January 9th. Barclays started coverage on Evolent Health in a report on Wednesday, January 3rd. They issued an overweight rating and a $39.00 price target for the company. Finally, Canaccord Genuity Group lowered their price objective on Evolent Health from $45.00 to $44.00 and set a buy rating on the stock in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $42.70.

Evolent Health Price Performance

NYSE EVH opened at $28.30 on Monday. The firm’s fifty day simple moving average is $31.90 and its two-hundred day simple moving average is $30.28. The firm has a market capitalization of $3.27 billion, a P/E ratio of -22.30 and a beta of 1.53. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Evolent Health has a 12-month low of $23.33 and a 12-month high of $36.70.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, February 22nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.13. The company had revenue of $556.06 million for the quarter, compared to analyst estimates of $541.87 million. Evolent Health had a positive return on equity of 6.60% and a negative net margin of 5.76%. Analysts forecast that Evolent Health will post 0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

A number of institutional investors have recently made changes to their positions in EVH. NBC Securities Inc. boosted its position in shares of Evolent Health by 16.6% during the first quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after buying an additional 350 shares during the period. Gamco Investors INC. ET AL increased its stake in Evolent Health by 0.5% in the third quarter. Gamco Investors INC. ET AL now owns 97,000 shares of the technology company’s stock valued at $2,641,000 after purchasing an additional 500 shares during the last quarter. New York State Common Retirement Fund raised its stake in Evolent Health by 0.5% during the 3rd quarter. New York State Common Retirement Fund now owns 94,908 shares of the technology company’s stock worth $2,584,000 after acquiring an additional 506 shares in the last quarter. HMS Capital Management LLC increased its position in shares of Evolent Health by 7.8% during the first quarter. HMS Capital Management LLC now owns 7,419 shares of the technology company’s stock worth $243,000 after purchasing an additional 538 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Evolent Health by 9.0% during the 3rd quarter. Teacher Retirement System of Texas now owns 8,293 shares of the technology company’s stock worth $226,000 after buying an additional 685 shares during the last quarter.

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.