Zacks Investment Research upgraded shares of Evolent Health, Inc (NYSE:EVH) from a sell rating to a hold rating in a research report report published on Monday morning.
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. “
Several other research firms also recently issued reports on EVH. BidaskClub downgraded shares of Evolent Health from a hold rating to a sell rating in a research note on Saturday, August 12th. Cowen and Company reaffirmed an outperform rating and set a $29.00 price target (down previously from $33.00) on shares of Evolent Health in a research note on Friday, October 6th. Jefferies Group LLC reaffirmed a buy rating and set a $28.00 price target on shares of Evolent Health in a research note on Wednesday, September 6th. ValuEngine downgraded shares of Evolent Health from a hold rating to a sell rating in a research note on Friday, July 28th. Finally, J P Morgan Chase & Co reaffirmed a buy rating on shares of Evolent Health in a research note on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $28.45.
Evolent Health (NYSE:EVH) traded down 2.844% during mid-day trading on Monday, reaching $16.225. 333,164 shares of the company’s stock were exchanged. Evolent Health has a 12 month low of $14.50 and a 12 month high of $25.55. The stock has a 50-day moving average of $17.33 and a 200-day moving average of $17.33. The firm’s market cap is $1.07 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 firm had revenue of $107.30 million during the quarter, compared to the consensus estimate of $104.45 million. Evolent Health had a negative net margin of 17.57% and a negative return on equity of 6.44%. The company’s revenue for the quarter was up 89.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.20) earnings per share. Analysts anticipate that Evolent Health will post ($0.40) earnings per share for the current year.
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In related news, CEO Frank J. Williams sold 16,300 shares of Evolent Health stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $23.73, for a total transaction of $386,799.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Thomas Peterson III sold 40,540 shares of Evolent Health stock in a transaction on Monday, July 24th. The stock was sold at an average price of $26.00, for a total transaction of $1,054,040.00. The disclosure for this sale can be found here. Insiders have sold 62,840 shares of company stock valued at $1,588,679 in the last three months. 8.79% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of EVH. ETF Managers Group LLC acquired a new stake in Evolent Health in the second quarter worth $102,000. BNP Paribas Arbitrage SA grew its holdings in Evolent Health by 815.4% in the second quarter. BNP Paribas Arbitrage SA now owns 4,751 shares of the technology company’s stock worth $120,000 after purchasing an additional 4,232 shares during the period. US Bancorp DE grew its holdings 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 purchasing an additional 19 shares during the period. Point72 Asia Hong Kong Ltd acquired a new stake in Evolent Health in the first quarter worth $126,000. Finally, First Mercantile Trust Co. acquired a new stake in Evolent Health in the second quarter worth $198,000. 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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