Evolent Health Inc. (EVH) Rating Increased to Buy at Zacks Investment Research
Evolent Health Inc. (NYSE:EVH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $28.00 price target on the stock. Zacks Investment Research’s price objective indicates a potential upside of 10.41% from the company’s current price.
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. “
Other research analysts have also recently issued reports about the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $30.00 target price on shares of Evolent Health in a report on Sunday, August 7th. Leerink Swann reaffirmed a “buy” rating on shares of Evolent Health in a report on Wednesday, October 5th. Jefferies Group set a $28.00 target price on shares of Evolent Health and gave the company a “buy” rating in a report on Tuesday, October 4th. FBR & Co increased their target price on shares of Evolent Health from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of Evolent Health in a report on Friday, September 30th. Seven equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $25.17.
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Evolent Health (NYSE:EVH) traded down 0.16% on Tuesday, reaching $25.36. The company had a trading volume of 322,033 shares. The stock’s market capitalization is $1.53 billion. The stock has a 50 day moving average price of $23.86 and a 200 day moving average price of $18.64. Evolent Health has a 52-week low of $8.14 and a 52-week high of $26.84.
Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.04. The firm earned $56.50 million during the quarter, compared to the consensus estimate of $51.96 million. Evolent Health had a negative net margin of 76.55% and a negative return on equity of 5.04%. The firm’s revenue was up 443.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.95) earnings per share. Analysts expect that Evolent Health will post ($0.54) EPS for the current year.
In other news, major shareholder Board Co Advisory sold 1,936,529 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $22.50, for a total transaction of $43,571,902.50. Following the completion of the transaction, the insider now directly owns 4,445,879 shares of the company’s stock, valued at approximately $100,032,277.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Frank J. Williams sold 251,481 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $21.54, for a total transaction of $5,416,900.74. Following the transaction, the chief executive officer now directly owns 1,304,799 shares of the company’s stock, valued at $28,105,370.46. The disclosure for this sale can be found here. Insiders own 8.85% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of EVH. Schwab Charles Investment Management Inc. boosted its stake in Evolent Health by 1.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 42,784 shares of the company’s stock valued at $822,000 after buying an additional 504 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Evolent Health by 8.5% in the second quarter. Nationwide Fund Advisors now owns 10,109 shares of the company’s stock valued at $194,000 after buying an additional 789 shares during the last quarter. Geode Capital Management LLC boosted its stake in Evolent Health by 1.3% in the first quarter. Geode Capital Management LLC now owns 75,085 shares of the company’s stock valued at $792,000 after buying an additional 948 shares during the last quarter. American International Group Inc. boosted its stake in Evolent Health by 14.9% in the second quarter. American International Group Inc. now owns 8,761 shares of the company’s stock valued at $168,000 after buying an additional 1,134 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its stake in Evolent Health by 12.9% in the second quarter. Salem Investment Counselors Inc. now owns 27,080 shares of the company’s stock valued at $520,000 after buying an additional 3,100 shares during the last quarter. 39.23% of the stock is owned by institutional investors and hedge funds.
About Evolent Health
Evolent Health, Inc supports integrated health systems in their migration towards value-based care and population health management. The Company’s services include providing customers with a population management platform, integrated data and analytics capabilities, pharmacy benefit management services and health plan administration services.
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