Evolent Health (NYSE:EVH) Shares Up 4.9% – What’s Next?

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

Analyst Ratings Changes

A number of analysts recently issued reports on EVH shares. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price objective on shares of Evolent Health in a research report on Tuesday, November 12th. KeyCorp began coverage on shares of Evolent Health in a research note on Friday, October 11th. They issued an “overweight” rating and a $35.00 price target on the stock. Stephens lowered shares of Evolent Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $38.00 to $16.00 in a report on Friday, November 8th. BTIG Research dropped their target price on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Finally, Barclays decreased their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $26.18.

Evolent Health Stock Up 2.1 %

The firm has a market cap of $1.33 billion, a PE ratio of -12.54 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $16.65 and a two-hundred day moving average price of $22.16.

Hedge Funds Weigh In On Evolent Health

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