Evolent Health Inc. [NYSE: EVH] price plunged by -4.69 percent to reach at -$1.65. The company report on May 3, 2023 at 4:10 PM that Evolent Health Announces First Quarter 2023 Results.
Evolent Health, Inc. (NYSE: EVH), a health care company that delivers proven clinical and administrative solutions to payers and providers, today announced financial results for the quarter ended March 31, 2023.
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A sum of 3847320 shares traded at recent session while its average daily volume was at 875.29K shares. Evolent Health Inc. shares reached a high of $33.91 and dropped to a low of $30.28 until finishing in the latest session at $33.55.
The one-year EVH stock forecast points to a potential upside of 28.62. The average equity rating for EVH stock is currently 1.60, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Evolent Health Inc. [EVH]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EVH shares is $47.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EVH stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stephens have made an estimate for Evolent Health Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 12, 2023. While these analysts kept the previous recommendation, Truist raised their target price to Hold. The new note on the price target was released on November 01, 2022, representing the official price target for Evolent Health Inc. stock. Previously, the target price had yet another raise to $40, while RBC Capital Mkts analysts kept a Outperform rating on EVH stock.
The Average True Range (ATR) for Evolent Health Inc. is set at 1.32, with the Price to Sales ratio for EVH stock in the period of the last 12 months amounting to 2.72. The Price to Book ratio for the last quarter was 3.90, with the Price to Cash per share for the same quarter was set at 1.72.
EVH Stock Performance Analysis:
Evolent Health Inc. [EVH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.57. With this latest performance, EVH shares gained by 7.39% in over the last four-week period, additionally plugging by 15.97% over the last 6 months – not to mention a rise of 16.41% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EVH stock in for the last two-week period is set at 46.62, with the RSI for the last a single of trading hit 39.46, and the three-weeks RSI is set at 49.75 for Evolent Health Inc. [EVH]. The present Moving Average for the last 50 days of trading for this stock 33.19, while it was recorded at 35.33 for the last single week of trading, and 32.10 for the last 200 days.
Insight into Evolent Health Inc. Fundamentals:
Evolent Health Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
EVH Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EVH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Evolent Health Inc. go to 30.00%.
Evolent Health Inc. [EVH] Insider Position Details
There are presently around $3,564 million, or 96.80% of EVH stock, in the hands of institutional investors. The top three institutional holders of EVH stocks are: VANGUARD GROUP INC with ownership of 9,790,816, which is approximately 13.113% of the company’s market cap and around 1.70% of the total institutional ownership; BLACKROCK INC., holding 7,701,919 shares of the stock with an approximate value of $271.11 million in EVH stocks shares; and JPMORGAN CHASE & CO, currently with $188.6 million in EVH stock with ownership of nearly -8.35% of the company’s market capitalization.
123 institutional holders increased their position in Evolent Health Inc. [NYSE:EVH] by around 15,281,551 shares. Additionally, 132 investors decreased positions by around 9,202,638 shares, while 32 investors held positions by with 76,773,635 shares. The mentioned changes placed institutional holdings at 101,257,824 shares, according to the latest SEC report filing. EVH stock had 39 new institutional investments in for a total of 2,722,623 shares, while 50 institutional investors sold positions of 2,939,749 shares during the same period.