Evolent Health Inc. (EVH): A Great Stock For Handling Current Market Conditions?

    SBUX Stock
    SBUX Stock

    Courage Capital Management LLC recently announced the acquisition of new stake in Evolent Health Inc. (NYSE:EVH). This fresh investment now brings its stake to 11.74% valued currently at $116.9 million. In addition, Engaged Capital LLC raised its holdings by 8.55 million to 8.55 million shares. And The Vanguard Group, Inc. has lifted its position by 1.57% or 0.11 million shares – to 7.04 million shares.

    With over 1.17 million Evolent Health Inc. (EVH) shares trading Tuesday and a closing price of $14.16 on the day, the dollar volume was approximately $16.59 million. The shares have shown a positive weekly performance of 8.51% and its price on 09/01/20 lost nearly -1.19%. Currently, there are 85.35M common shares owned by the public and among those 77.88M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for EVH have a consensus price objective of $15.25. The analysts have set the share’s price value over the next 12 months at a high of $20.00 and a low of $9.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Evolent Health Inc. stock is 2.20 for the next 12 months. The average price target is -23.13% below its last price level and a downside to the estimated low will see the stock lose -49.05% over that period. But an upside of 29.2% will see the stock hit the forecast high price target while mean target price for the stock is $16.00.

    Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 338,082 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 10,000 shares.

    The top 3 mutual fund holders in Evolent Health Inc. are CS Invt. Fds. 2 – (Lux) Digital H, Carillon Eagle Small Cap Growth F, and Vanguard Total Stock Market Index. CS Invt. Fds. 2 – (Lux) Digital H owns 3.7 million shares of the company’s stock, all valued at over $43.1 million. The company bought an additional 3.7 million shares recently to bring their total holdings to about 4.33% of the shares outstanding. Carillon Eagle Small Cap Growth F sold -0.25 million shares to see its total holdings shrink to 2.25 million shares valued at over $26.18 million and representing 2.63% of the shares outstanding. Vanguard Total Stock Market Index bought 701.0 shares to bring its total holdings to over 2.16 million shares at a value of $25.13 million. Vanguard Total Stock Market Index now owns shares totaling to 2.52% of the shares outstanding.

    Shares of Evolent Health Inc. (NYSE: EVH) opened at $14.34, up $0.01 from a prior closing price of $14.33. However, the script later closed the day at $14.16, down -1.19%. The company’s stock has a 5-day price change of 8.51% and 128.76% over the past three months. EVH shares are trading 56.46% year to date (YTD), with the 12-month market performance up to 128.02% higher. It has a 12-month low price of $3.50 and touched a high of $14.50 over the same period. Currently, 1.17 million shares have been traded, compared to an average intraday trading volume of 1.95 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.27%, 33.26%, and 63.66% respectively.

    Institutional ownership of Evolent Health Inc. (NYSE: EVH) shares accounts for 91.70% of the company’s 85.35M shares outstanding. Mutual fund holders own 51.43%, while other institutional holders and individual stakeholders account for 72.77% and 14.23% respectively.

    It has a market capitalization of $1.16B and a beta (3y monthly) value of 1.86. The earnings-per-share (ttm) stands at -$5.98. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.11% over the week and 5.40% over the month.

    Analysts forecast that Evolent Health Inc. (EVH) will achieve an EPS of -$0.04 for the current quarter, -$0.06 for the next quarter and -$0.31 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.11 while analysts give the company a high EPS estimate of $0.02. Comparatively, EPS for the current quarter was -$0.09 a year ago. Earnings per share for the fiscal year are expected to decrease by -435.40%, and 0.00% over the next financial year. EPS should grow at an annualized rate of 30.00% over the next five years, compared to -45.70% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Evolent Health Inc. (EVH) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 5 of the 12 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the EVH, a number of firms have released research notes about the stock. KeyBanc Capital Markets stated their Sector Weight rating for the stock in a research note on July 06, 2020, with the firm’s price target at. Goldman coverage for the Evolent Health Inc. (EVH) stock in a research note released on June 05, 2020 offered a Neutral rating with a price target of $8. Cantor Fitzgerald was of a view on June 02, 2020 that the stock is Neutral, while Leerink Partners gave the stock Outperform rating on October 05, 2018, issuing a price target of $35. Piper Jaffray on their part issued Overweight rating on June 04, 2018.


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