Shares of Evolent Health Inc. (NYSE:EVH) have been given a consensus rating of “Buy” by the seven analysts that are covering the firm. Seven analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $26.20.
EVH has been the topic of a number of recent analyst reports. Zacks Investment Research raised Evolent Health from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Tuesday, October 11th. Jefferies Group set a $28.00 price objective on Evolent Health and gave the stock a “buy” rating in a report on Tuesday, October 4th. Leerink Swann reaffirmed a “buy” rating on shares of Evolent Health in a report on Wednesday, October 5th. Canaccord Genuity reaffirmed a “buy” rating and set a $30.00 price objective on shares of Evolent Health in a report on Wednesday, July 13th. Finally, FBR & Co upped their target price on Evolent Health from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, August 5th.
In other news, major shareholder Board Co Advisory sold 1,936,529 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $22.50, for a total value of $43,571,902.50. Following the sale, the insider now directly owns 4,445,879 shares in the company, valued at $100,032,277.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Jonathan Weinberg sold 10,339 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $21.54, for a total value of $222,702.06. Following the completion of the sale, the general counsel now owns 76,245 shares in the company, valued at $1,642,317.30. The disclosure for this sale can be found here. 8.85% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. bought a new stake in shares of Evolent Health during the second quarter valued at about $1,565,000. Blair William & Co. IL increased its stake in shares of 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 in the last quarter. EAM Investors LLC bought a new stake in shares of Evolent Health during the second quarter valued at about $3,971,000. Emerald Acquisition Ltd. bought a new stake in shares of Evolent Health during the second quarter valued at about $1,301,000. Finally, Swiss National Bank increased its stake in shares of Evolent Health by 90.2% in the second quarter. Swiss National Bank now owns 32,900 shares of the company’s stock valued at $632,000 after buying an additional 15,600 shares in the last quarter. Institutional investors and hedge funds own 39.27% of the company’s stock.
Shares of Evolent Health (NYSE:EVH) traded up 2.68% during mid-day trading on Tuesday, hitting $23.36. 131,656 shares of the company were exchanged. The company’s market capitalization is $1.41 billion. Evolent Health has a 52 week low of $8.14 and a 52 week high of $26.84. The company has a 50 day moving average of $23.85 and a 200 day moving average of $19.04.
Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.04. Evolent Health had a negative return on equity of 5.04% and a negative net margin of 76.55%. The firm had revenue of $56.50 million for the quarter, compared to analyst estimates of $51.96 million. During the same quarter in the prior year, the company posted ($0.95) earnings per share. Evolent Health’s quarterly revenue was up 443.3% on a year-over-year basis. Equities analysts anticipate that Evolent Health will post ($0.54) earnings per share for the current year.
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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