Zacks Investment Research upgraded shares of Evolent Health Inc. (NYSE:EVH) from a hold rating to a buy rating in a research report report published on Tuesday morning. They currently have $28.00 target price on the stock.
According to Zacks, “Evolent Health, Inc. is involved in the healthcare delivery and payment markets. The company provides technology-enabled services platform for providers to transition their organization in value-based payment models. Evolent Health, Inc. is based in Arlington, Virginia. “
A number of other brokerages have also recently commented on EVH. Jefferies Group set a $28.00 price target on Evolent Health and gave the company a buy rating in a research report on Tuesday, October 4th. Leerink Swann reaffirmed a buy rating on shares of Evolent Health in a research report on Wednesday, October 5th. William Blair reaffirmed an outperform rating on shares of Evolent Health in a research report on Friday, September 30th. Canaccord Genuity set a $30.00 price target on Evolent Health and gave the company a buy rating in a research report on Wednesday, September 28th. Finally, FBR & Co upped their price target on Evolent Health from $24.00 to $26.00 and gave the company an outperform rating in a research report on Friday, August 5th. Seven equities research analysts have rated the stock with a buy rating, Evolent Health currently has an average rating of Buy and an average target price of $25.17.
Evolent Health (NYSE:EVH) opened at 24.01 on Tuesday. Evolent Health has a 52-week low of $8.14 and a 52-week high of $26.84. The company’s market cap is $1.45 billion. The firm has a 50-day moving average price of $23.92 and a 200-day moving average price of $18.84.
Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The firm earned $56.50 million during the quarter, compared to the consensus estimate of $51.96 million. Evolent Health had a negative return on equity of 5.04% and a negative net margin of 76.55%. The business’s revenue for the quarter was up 443.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.95) EPS. On average, analysts forecast that Evolent Health will post ($0.54) EPS for the current year.
In related news, General Counsel Jonathan Weinberg sold 10,339 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $21.54, for a total transaction of $222,702.06. Following the sale, the general counsel now owns 76,245 shares of the company’s stock, valued at approximately $1,642,317.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Board Co Advisory sold 317,712 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $22.50, for a total value of $7,148,520.00. Following the sale, the insider now directly owns 4,128,167 shares in the company, valued at approximately $92,883,757.50. The disclosure for this sale can be found here. Corporate insiders own 8.85% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Pennant Capital Management LLC boosted its stake in shares of Evolent Health by 54.2% in the first quarter. Pennant Capital Management LLC now owns 1,361,147 shares of the company’s stock worth $14,374,000 after buying an additional 478,318 shares during the period. JPMorgan Chase & Co. boosted its stake in Evolent Health by 39.0% in the first quarter. JPMorgan Chase & Co. now owns 1,290,465 shares of the company’s stock valued at $13,628,000 after buying an additional 361,945 shares during the last quarter. Perceptive Advisors LLC boosted its stake in Evolent Health by 41.1% in the second quarter. Perceptive Advisors LLC now owns 873,064 shares of the company’s stock valued at $16,763,000 after buying an additional 254,134 shares during the last quarter. Blair William & Co. IL boosted its stake in Evolent Health by 205.5% in the second quarter. Blair William & Co. IL now owns 341,570 shares of the company’s stock valued at $6,558,000 after buying an additional 229,748 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its stake in Evolent Health by 21.1% in the first quarter. TimesSquare Capital Management LLC now owns 1,192,755 shares of the company’s stock valued at $12,595,000 after buying an additional 207,755 shares during the last quarter. 39.23% of the stock is currently owned by institutional investors and hedge funds.
Evolent Health Company Profile
Evolent Health, Inc supports integrated health systems in their migration towards value-based care and population health management. The Company’s services include providing customers with a population management platform, integrated data and analytics capabilities, pharmacy benefit management services and health plan administration services.
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