Evolent Health, Inc (NYSE:EVH)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Group LLC in a research note issued on Wednesday, September 6th. They currently have a $28.00 price objective on the technology company’s stock. Jefferies Group LLC’s price target suggests a potential upside of 67.16% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on EVH. Robert W. Baird set a $35.00 price objective on Evolent Health and gave the company a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research lowered Evolent Health from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Cowen and Company reissued an “outperform” rating and issued a $33.00 target price (down previously from $35.00) on shares of Evolent Health in a report on Wednesday, August 9th. BidaskClub lowered Evolent Health from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, TheStreet raised Evolent Health from a “d” rating to a “c-” rating in a report on Monday, May 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Evolent Health has a consensus rating of “Buy” and an average target price of $29.33.
Shares of Evolent Health (NYSE:EVH) opened at 16.75 on Wednesday. The company’s market capitalization is $1.10 billion. The firm’s 50-day moving average is $17.19 and its 200-day moving average is $17.19. Evolent Health has a 1-year low of $14.50 and a 1-year high of $25.66.
Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Monday, August 7th. The technology company reported ($0.13) earnings per share for the quarter, meeting the Zacks’ consensus estimate 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 quarter in the previous year, the business earned ($0.20) earnings per share. The firm’s revenue for the quarter was up 89.9% on a year-over-year basis. Analysts forecast that Evolent Health will post ($0.41) earnings per share for the current fiscal year.
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In related news, COO Thomas Peterson III sold 40,540 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $26.00, for a total transaction of $1,054,040.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Steve Wigginton sold 6,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $25.07, for a total value of $150,420.00. The disclosure for this sale can be found here. Insiders have sold 4,366,132 shares of company stock worth $112,891,200 over the last quarter. 8.79% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. ETF Managers Group LLC acquired a new stake in shares of Evolent Health in the second quarter valued at about $102,000. BNP Paribas Arbitrage SA grew its stake in shares of Evolent Health by 815.4% in the second 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 in the last quarter. US Bancorp DE grew its stake in shares of Evolent Health by 0.3% in the first 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 in the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Evolent Health in the first quarter valued at about $126,000. Finally, Bank of Montreal Can grew its stake in shares of Evolent Health by 4,249.7% in the first 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 in the last quarter. Institutional investors and hedge funds own 82.51% of the company’s stock.
About Evolent Health
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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