BidaskClub upgraded shares of Evolent Health, Inc (NYSE:EVH) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday, July 13th.
EVH has been the subject of several other reports. Zacks Investment Research cut Evolent Health from a buy rating to a hold rating in a research report on Thursday, May 4th. Jefferies Group LLC reiterated a buy rating and set a $28.00 price target on shares of Evolent Health in a research report on Thursday, April 13th. Cowen and Company restated an outperform rating and issued a $35.00 price objective on shares of Evolent Health in a research report on Wednesday, June 28th. Robert W. Baird started coverage on Evolent Health in a research report on Thursday, June 1st. They issued an outperform rating and a $30.00 price objective for the company. Finally, TheStreet upgraded Evolent Health from a d rating to a c- rating in a research report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $30.10.
Shares of Evolent Health (NYSE:EVH) opened at 19.85 on Thursday. The company has a 50-day moving average of $25.70 and a 200 day moving average of $22.65. The stock’s market capitalization is $1.15 billion. Evolent Health has a 12-month low of $14.50 and a 12-month high of $27.50.
Evolent Health (NYSE:EVH) last released its earnings results on Monday, August 7th. The technology company reported ($0.13) EPS for the quarter, hitting the Zacks’ 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 return on equity of 6.51% and a negative net margin of 17.57%. The company’s revenue was up 89.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) earnings per share. Analysts predict that Evolent Health will post ($0.41) earnings per share for the current year.
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In other Evolent Health news, President Seth Blackley sold 15,000 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $25.00, for a total transaction of $375,000.00. Following the transaction, the president now owns 760,944 shares of the company’s stock, valued at $19,023,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Upmc sold 2,333,333 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $24.30, for a total value of $56,699,991.90. Following the transaction, the insider now directly owns 6,434,283 shares in the company, valued at approximately $156,353,076.90. The disclosure for this sale can be found here. Insiders have sold 10,153,967 shares of company stock worth $253,648,377 in the last three months. 8.79% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Tygh Capital Management Inc. raised its position in shares of Evolent Health by 199.8% in the first quarter. Tygh Capital Management Inc. now owns 314,942 shares of the technology company’s stock valued at $7,023,000 after buying an additional 209,876 shares during the period. American Century Companies Inc. raised its position in shares of Evolent Health by 5.2% in the first quarter. American Century Companies Inc. now owns 162,116 shares of the technology company’s stock valued at $3,615,000 after buying an additional 8,020 shares during the period. First Trust Advisors LP acquired a new position in shares of Evolent Health during the first quarter valued at approximately $735,000. Wells Fargo & Company MN raised its position in shares of Evolent Health by 475.1% in the first quarter. Wells Fargo & Company MN now owns 91,658 shares of the technology company’s stock valued at $2,044,000 after buying an additional 75,720 shares during the period. Finally, Dowling & Yahnke LLC raised its position in shares of Evolent Health by 27.4% in the first quarter. Dowling & Yahnke LLC now owns 116,350 shares of the technology company’s stock valued at $2,595,000 after buying an additional 25,000 shares during the period. 73.16% of the stock is currently owned by institutional investors and hedge funds.
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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