Evolent Health, Inc (NYSE:EVH) Downgraded to “Sell” at BidaskClub
Evolent Health, Inc (NYSE:EVH) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.
Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Evolent Health from a “hold” rating to a “sell” rating in a report on Thursday. Cowen and Company restated an “outperform” rating and set a $33.00 target price (down previously from $35.00) on shares of Evolent Health in a report on Wednesday. Robert W. Baird set a $35.00 target price on shares of Evolent Health and gave the company a “buy” rating in a report on Tuesday. ValuEngine lowered shares of Evolent Health from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Leerink Swann restated an “outperform” rating and set a $32.00 target price (up previously from $30.00) on shares of Evolent Health in a report on Monday, June 19th. Three analysts have rated the stock with a sell rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $29.90.
Shares of Evolent Health (NYSE:EVH) traded up 4.25% during mid-day trading on Friday, hitting $18.40. The stock had a trading volume of 2,941,142 shares. The stock’s market cap is $1.21 billion. The company’s 50 day moving average price is $24.73 and its 200 day moving average price is $22.68. Evolent Health has a 12-month low of $14.50 and a 12-month high of $27.50.
Evolent Health (NYSE:EVH) last posted its earnings results on Monday, August 7th. The technology company reported ($0.13) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). The business had revenue of $107.30 million for the quarter, compared to analyst estimates of $104.45 million. Evolent Health had a negative net margin of 17.57% and a negative return on equity of 6.44%. The business’s quarterly revenue was up 89.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.20) EPS. Equities research analysts predict that Evolent Health will post ($0.41) EPS for the current fiscal year.
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In other Evolent Health news, CEO Frank J. Williams sold 114,865 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $24.30, for a total value of $2,791,219.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Nicholas Mcgrane sold 10,495 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $26.95, for a total transaction of $282,840.25. The disclosure for this sale can be found here. Insiders sold a total of 10,153,967 shares of company stock worth $253,648,377 in the last quarter. 8.79% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Handelsbanken Fonder AB bought a new stake in shares of Evolent Health during the first quarter worth about $1,784,000. US Bancorp DE raised its stake 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 worth $126,000 after buying an additional 19 shares during the period. Tygh Capital Management Inc. raised its stake 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 worth $7,023,000 after buying an additional 209,876 shares during the period. American Century Companies Inc. raised its stake 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 worth $3,615,000 after buying an additional 8,020 shares during the period. Finally, First Trust Advisors LP bought a new stake in shares of Evolent Health during the first quarter worth about $735,000. Institutional investors and hedge funds own 73.16% of the company’s stock.
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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