Evolent Health (NYSE:EVH) Cut to Hold at Zacks Investment Research


Share on StockTwits

Zacks Investment Research lowered shares of Evolent Health (NYSE:EVH) from a buy rating to a hold rating in a research report report published on Monday morning, Zacks.com reports.

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 equities research analysts also recently commented on the company. BidaskClub upgraded Evolent Health from a buy rating to a strong-buy rating in a report on Wednesday, December 23rd. BTIG Research assumed coverage on Evolent Health in a research report on Wednesday, January 6th. They issued a buy rating and a $20.00 price objective for the company. Canaccord Genuity upped their price objective on Evolent Health from $16.00 to $20.00 and gave the stock a buy rating in a research report on Thursday, January 7th. Finally, Piper Sandler dropped their target price on Evolent Health from $16.00 to $15.00 and set an overweight rating on the stock in a research report on Friday, November 6th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Evolent Health presently has an average rating of Buy and a consensus target price of $15.10.

EVH opened at $17.05 on Monday. The firm has a 50 day simple moving average of $15.69 and a 200 day simple moving average of $12.65. Evolent Health has a fifty-two week low of $3.50 and a fifty-two week high of $17.80. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -2.80 and a beta of 2.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.50 and a quick ratio of 1.50.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, November 5th. The technology company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. The firm had revenue of $264.59 million during the quarter, compared to analyst estimates of $263.52 million. Evolent Health had a negative net margin of 52.35% and a negative return on equity of 4.40%. As a group, analysts expect that Evolent Health will post -0.41 EPS for the current year.

Large investors have recently bought and sold shares of the business. Sei Investments Co. boosted its holdings in shares of Evolent Health by 123.3% in the 3rd quarter. Sei Investments Co. now owns 142,539 shares of the technology company’s stock valued at $1,814,000 after buying an additional 78,695 shares during the last quarter. California State Teachers Retirement System raised its position in Evolent Health by 1.9% during the third quarter. California State Teachers Retirement System now owns 114,010 shares of the technology company’s stock worth $1,415,000 after acquiring an additional 2,133 shares in the last quarter. Jane Street Group LLC lifted its stake in Evolent Health by 142.4% in the third quarter. Jane Street Group LLC now owns 25,884 shares of the technology company’s stock valued at $321,000 after acquiring an additional 15,205 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Evolent Health in the 3rd quarter valued at about $42,000. Finally, Point72 Asset Management L.P. increased its stake in shares of Evolent Health by 17.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 628,880 shares of the technology company’s stock worth $7,804,000 after purchasing an additional 95,335 shares during the last quarter. 82.13% of the stock is currently owned by hedge funds and other institutional investors.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates through two segments, Services and True Health. The Services segment provides value-based care services that include Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows and engages patients; population health performance that delivers patient-centric cost effective care; delivery network alignments; and integrated cost and revenue management solutions.

Further Reading: Why does the United States have a lingering trade deficit?

Get a free copy of the Zacks research report on Evolent Health (EVH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Evolent Health (NYSE:EVH)

Receive News & Ratings for Evolent Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evolent Health and related companies with MarketBeat.com's FREE daily email newsletter.