Evolent Health, Inc (EVH) Receives Consensus Rating of “Buy” from Analysts
Evolent Health, Inc (NYSE:EVH) has earned an average recommendation of “Buy” from the seventeen brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $28.30.
A number of equities analysts recently commented on EVH shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Evolent Health in a research note on Wednesday, September 6th. Leerink Swann set a $32.00 price objective on shares of Evolent Health and gave the stock a “buy” rating in a research note on Friday, August 18th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Evolent Health in a research note on Friday, August 18th. BidaskClub lowered shares of Evolent Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Robert W. Baird set a $35.00 price objective on shares of Evolent Health and gave the stock a “buy” rating in a research note on Tuesday, August 8th.
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Evolent Health (EVH) traded up 0.469% during midday trading on Thursday, reaching $16.075. The company had a trading volume of 157,765 shares. The company’s 50 day moving average is $17.16 and its 200-day moving average is $17.16. The company’s market capitalization is $1.06 billion. Evolent Health has a 52-week low of $14.50 and a 52-week high of $27.50.
Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Monday, August 7th. The technology company reported ($0.13) EPS for the quarter, hitting analysts’ consensus estimates of ($0.13). Evolent Health had a negative net margin of 17.57% and a negative return on equity of 6.44%. The firm had revenue of $107.30 million during the quarter, compared to analyst estimates of $104.45 million. During the same quarter last year, the business posted ($0.20) EPS. The company’s revenue was up 89.9% on a year-over-year basis. Equities analysts expect that Evolent Health will post ($0.40) earnings per share for the current fiscal year.
In other Evolent Health news, COO Thomas Peterson III sold 40,540 shares of Evolent Health stock in a transaction on Monday, July 24th. The shares were sold at an average price of $26.00, for a total transaction of $1,054,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steve Wigginton sold 6,000 shares of Evolent Health stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $24.64, for a total transaction of $147,840.00. The disclosure for this sale can be found here. Insiders have sold a total of 62,840 shares of company stock valued at $1,588,679 in the last three months. Company insiders own 8.79% of the company’s stock.
Several large investors have recently modified their holdings of EVH. FMR LLC boosted its stake in shares of Evolent Health by 117.7% during the 2nd quarter. FMR LLC now owns 9,864,775 shares of the technology company’s stock valued at $250,073,000 after buying an additional 5,333,252 shares during the period. Riverbridge Partners LLC acquired a new stake in shares of Evolent Health during the 2nd quarter valued at $58,878,000. Vanguard Group Inc. boosted its stake in shares of Evolent Health by 48.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,769,869 shares of the technology company’s stock valued at $95,566,000 after buying an additional 1,237,941 shares during the period. Eagle Asset Management Inc. acquired a new stake in shares of Evolent Health during the 2nd quarter valued at $27,577,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Evolent Health by 728.9% during the 2nd quarter. Wells Fargo & Company MN now owns 759,724 shares of the technology company’s stock valued at $19,259,000 after buying an additional 668,066 shares during the period. 82.51% of the stock is owned by institutional investors.
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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