Evolent Health, Inc (EVH) Given a $35.00 Price Target at Robert W. Baird
Evolent Health, Inc (NYSE:EVH) has been given a $35.00 price objective by Robert W. Baird in a report released on Tuesday. The brokerage presently has a “buy” rating on the technology company’s stock. Robert W. Baird’s target price would indicate a potential upside of 46.14% from the company’s previous close.
A number of other brokerages have also recently commented on EVH. Leerink Swann restated an “outperform” rating and set a $32.00 price target (up from $30.00) on shares of Evolent Health in a research note on Monday, June 19th. BidaskClub cut shares of Evolent Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Cowen and Company restated an “outperform” rating and set a $35.00 price target on shares of Evolent Health in a research note on Wednesday, June 28th. ValuEngine cut shares of Evolent Health from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, TheStreet upgraded shares of Evolent Health from a “d” rating to a “c-” rating in a research note on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $30.10.
Shares of Evolent Health (NYSE:EVH) traded down 9.81% on Tuesday, hitting $21.60. 473,394 shares of the stock traded hands. Evolent Health has a 52 week low of $14.50 and a 52 week high of $27.50. The stock has a 50 day moving average price of $25.82 and a 200-day moving average price of $22.62. The stock’s market cap is $1.25 billion.
Evolent Health (NYSE:EVH) last released its earnings results on Monday, August 7th. The technology company reported ($0.13) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.13). The firm had revenue of $107.30 million for the quarter, compared to analysts’ expectations of $104.45 million. Evolent Health had a negative net margin of 17.69% and a negative return on equity of 7.06%. The company’s quarterly revenue was up 89.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.20) earnings per share. On average, equities research analysts forecast that Evolent Health will post ($0.41) EPS for the current year.
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In related news, CEO Frank J. Williams sold 16,300 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $23.73, for a total transaction of $386,799.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Seth Blackley sold 15,000 shares of the company’s stock in a transaction that occurred 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 sale, the president now directly owns 760,944 shares in the company, valued at approximately $19,023,600. The disclosure for this sale can be found here. Insiders have sold a total of 10,174,238 shares of company stock worth $254,153,952 in the last ninety days. 8.79% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of EVH. Swiss National Bank raised its stake in Evolent Health by 51.7% in the first quarter. Swiss National Bank now owns 61,000 shares of the technology company’s stock worth $1,360,000 after buying an additional 20,800 shares during the period. Fox Run Management L.L.C. purchased a new stake in Evolent Health during the second quarter worth $363,000. US Bancorp DE raised its stake 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 buying an additional 19 shares during the period. PEAK6 Investments L.P. purchased a new stake in Evolent Health during the first quarter worth $342,000. Finally, AQR Capital Management LLC raised its stake in Evolent Health by 134.7% in the fourth quarter. AQR Capital Management LLC now owns 25,657 shares of the technology company’s stock worth $380,000 after buying an additional 14,723 shares during the period. 73.16% of the stock is currently owned by institutional investors and hedge funds.
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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