Evolent Health, Inc (NYSE:EVH) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, July 28th.
Several other analysts also recently issued reports on the company. Jefferies Group LLC restated a “buy” rating and issued a $28.00 price target on shares of Evolent Health in a research note on Thursday, April 13th. Zacks Investment Research downgraded Evolent Health from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. Robert W. Baird started coverage on Evolent Health in a research note on Thursday, June 1st. They issued an “outperform” rating and a $30.00 price target for the company. Leerink Swann restated an “outperform” rating and issued a $32.00 price target (up from $30.00) on shares of Evolent Health in a research note on Monday, June 19th. Finally, BidaskClub downgraded Evolent Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $30.10.
Evolent Health (NYSE:EVH) opened at 19.85 on Friday. Evolent Health has a 52 week low of $14.50 and a 52 week high of $27.50. The company has a 50 day moving average price of $25.70 and a 200-day moving average price of $22.65. The firm’s market capitalization is $1.15 billion.
Evolent Health (NYSE:EVH) last released its quarterly earnings results on Monday, August 7th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). The business had revenue of $107.30 million during the quarter, compared to the consensus estimate of $104.45 million. Evolent Health had a negative return on equity of 6.51% and a negative net margin of 17.57%. The firm’s quarterly revenue was up 89.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.20) EPS. Equities analysts predict that Evolent Health will post ($0.41) earnings per share for the current year.
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In other news, CEO Frank J. Williams sold 16,300 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $23.73, for a total transaction of $386,799.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tpg Growth Ii Advisors, Inc. sold 4,279,325 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $25.87, for a total value of $110,706,137.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,153,967 shares of company stock valued at $253,648,377. Corporate insiders own 8.79% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Swiss National Bank boosted its position in Evolent Health by 51.7% in the first quarter. Swiss National Bank now owns 61,000 shares of the technology company’s stock worth $1,360,000 after buying an additional 20,800 shares during the period. Highbridge Capital Management LLC acquired a new position in Evolent Health during the fourth quarter worth approximately $1,390,000. Fox Run Management L.L.C. acquired a new position in Evolent Health during the second quarter worth approximately $363,000. US Bancorp DE boosted its position in Evolent Health by 0.3% in the first quarter. US Bancorp DE now owns 5,654 shares of the technology company’s stock worth $126,000 after buying an additional 19 shares during the period. Finally, PEAK6 Investments L.P. acquired a new position in Evolent Health during the first quarter worth approximately $342,000. 73.16% of the stock is owned by institutional investors.
Evolent Health Company Profile
Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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