Evolent Health Inc (EVH) Stock Rating Upgraded by TheStreet
Evolent Health Inc (NYSE:EVH) was upgraded by stock analysts at TheStreet from a “d” rating to a “c-” rating in a report issued on Monday.
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Evolent Health from a “buy” rating to a “hold” rating in a report on Thursday, May 4th. Jefferies Group LLC restated a “buy” rating and issued a $28.00 price objective on shares of Evolent Health in a report on Thursday, April 13th. CIBC began coverage on shares of Evolent Health in a report on Tuesday, March 14th. They issued an “outperform” rating for the company. Oppenheimer Holdings Inc. began coverage on shares of Evolent Health in a report on Monday, March 13th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, Goldman Sachs Group Inc upgraded shares of Evolent Health from a “buy” rating to a “conviction-buy” rating and set a $30.00 price objective for the company in a report on Wednesday, March 8th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $27.67.
Shares of Evolent Health (NYSE:EVH) traded up 0.523% during trading on Monday, reaching $24.025. 652,973 shares of the company’s stock traded hands. The company’s market cap is $1.39 billion. The company’s 50-day moving average is $23.04 and its 200 day moving average is $19.77. Evolent Health has a 52-week low of $14.50 and a 52-week high of $26.84.
Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Tuesday, May 9th. The technology company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.11. The business had revenue of $106.80 million during the quarter, compared to the consensus estimate of $104.38 million. Evolent Health had a negative return on equity of 5.54% and a negative net margin of 69.04%. The company’s revenue was up 116.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. Equities analysts forecast that Evolent Health will post ($0.41) EPS for the current year.
In related news, CFO Nicholas Mcgrane sold 7,034 shares of Evolent Health stock in a transaction on Friday, March 24th. The shares were sold at an average price of $22.50, for a total value of $158,265.00. Following the transaction, the chief financial officer now directly owns 137,414 shares of the company’s stock, valued at $3,091,815. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Board Co Advisory sold 2,118,078 shares of Evolent Health stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $19.53, for a total transaction of $41,366,063.34. Following the completion of the transaction, the insider now directly owns 6,246,245 shares in the company, valued at $121,989,164.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,086,969 shares of company stock worth $244,450,701. 8.85% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of EVH. US Bancorp DE increased its position 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 during the last quarter. Point72 Asia Hong Kong Ltd bought a new position in shares of Evolent Health during the first quarter worth about $126,000. Bank of Montreal Can increased its position 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 worth $138,000 after buying an additional 6,077 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Evolent Health by 286.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,744 shares of the technology company’s stock worth $150,000 after buying an additional 5,000 shares during the last quarter. Finally, IPG Investment Advisors LLC bought a new position in shares of Evolent Health during the first quarter worth about $206,000. 52.14% of the stock is currently 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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