Evolent Health, Inc (NYSE:EVH)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group LLC in a report issued on Wednesday, September 6th. They presently have a $28.00 target price on the technology company’s stock. Jefferies Group LLC’s target price suggests a potential upside of 62.32% from the company’s current price.
Several other equities analysts have also issued reports on the company. Leerink Swann set a $32.00 price objective on Evolent Health and gave the company a “buy” rating in a research report on Friday, August 18th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Evolent Health in a research report on Friday, August 18th. BidaskClub lowered Evolent Health from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Zacks Investment Research lowered Evolent Health from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $33.00 price objective (down from $35.00) on shares of Evolent Health in a research report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $29.90.
Shares of Evolent Health (NYSE EVH) opened at 17.25 on Wednesday. The firm’s market capitalization is $1.14 billion. The company’s 50 day moving average is $17.65 and its 200 day moving average is $18.88. Evolent Health has a 12-month low of $14.50 and a 12-month high of $25.66.
Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Monday, August 7th. The technology company reported ($0.13) EPS for the quarter, meeting analysts’ consensus estimates of ($0.13). Evolent Health had a negative return on equity of 6.44% and a negative net margin of 17.57%. The company had revenue of $107.30 million during the quarter, compared to analysts’ expectations of $104.45 million. During the same period in the prior year, the business posted ($0.20) EPS. Evolent Health’s revenue was up 89.9% on a year-over-year basis. On average, analysts forecast that Evolent Health will post ($0.42) earnings per share for the current year.
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In other Evolent Health news, insider Tpg Growth Ii Advisors, Inc. sold 4,279,325 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $25.87, for a total transaction of $110,706,137.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank J. Williams sold 16,300 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $23.73, for a total value of $386,799.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,366,132 shares of company stock valued at $112,891,200. Insiders own 8.79% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ETF Managers Group LLC acquired a new stake in shares of Evolent Health in the 2nd quarter valued at approximately $102,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Evolent Health by 815.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,751 shares of the technology company’s stock valued at $120,000 after buying an additional 4,232 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Evolent Health by 0.3% in the 1st quarter. US Bancorp DE now owns 5,654 shares of the technology company’s stock valued at $126,000 after buying an additional 19 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Evolent Health in the 1st quarter valued at approximately $126,000. Finally, Bank of Montreal Can boosted its holdings in shares of Evolent Health by 4,249.7% in the 1st quarter. Bank of Montreal Can now owns 6,220 shares of the technology company’s stock valued at $138,000 after buying an additional 6,077 shares during the last quarter. 82.51% 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.
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