Evolent Health (EVH) Lowered to “Sell” at Zacks Investment Research

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Evolent Health (NYSE:EVH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

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. “

EVH has been the subject of a number of other reports. KeyCorp lowered their price target on shares of Evolent Health from $32.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, March 4th. Oppenheimer decreased their price objective on shares of Evolent Health from $31.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, February 27th. Cantor Fitzgerald decreased their price objective on shares of Evolent Health from $37.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, February 27th. ValuEngine lowered shares of Evolent Health from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Finally, Wells Fargo & Co decreased their price objective on shares of Evolent Health from $34.00 to $21.50 and set an “outperform” rating for the company in a report on Wednesday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $26.54.

EVH opened at $13.01 on Wednesday. The firm has a market cap of $1.08 billion, a P/E ratio of -37.17 and a beta of 1.25. Evolent Health has a twelve month low of $12.09 and a twelve month high of $29.05. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.19.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Tuesday, February 26th. The technology company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.03). The firm had revenue of $193.10 million for the quarter, compared to analyst estimates of $188.66 million. Evolent Health had a negative net margin of 8.40% and a negative return on equity of 2.39%. Evolent Health’s revenue for the quarter was up 69.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.04) earnings per share. Equities analysts forecast that Evolent Health will post -0.68 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in EVH. First Trust Advisors LP grew its holdings in Evolent Health by 125.7% during the 3rd quarter. First Trust Advisors LP now owns 185,502 shares of the technology company’s stock worth $5,268,000 after acquiring an additional 103,326 shares in the last quarter. US Bancorp DE lifted its position in shares of Evolent Health by 6.1% in the 3rd quarter. US Bancorp DE now owns 40,225 shares of the technology company’s stock worth $1,142,000 after buying an additional 2,301 shares during the last quarter. Parametrica Management Ltd bought a new position in shares of Evolent Health in the 3rd quarter worth about $222,000. Tygh Capital Management Inc. bought a new position in shares of Evolent Health in the 3rd quarter worth about $5,085,000. Finally, First Mercantile Trust Co. lifted its position in shares of Evolent Health by 94.8% in the 3rd quarter. First Mercantile Trust Co. now owns 20,857 shares of the technology company’s stock worth $592,000 after buying an additional 10,152 shares during the last quarter.

Evolent Health Company Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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