Evolent Health, Inc (EVH) Rating Reiterated by SunTrust Banks, Inc.
Evolent Health, Inc (NYSE:EVH)‘s stock had its “buy” rating reaffirmed by equities research analysts at SunTrust Banks, Inc. in a research note issued to investors on Friday. They currently have a $30.00 price objective on the technology company’s stock. SunTrust Banks, Inc.’s price objective would indicate a potential upside of 126.42% from the company’s current price.
Several other equities research analysts also recently issued reports on EVH. Robert W. Baird set a $35.00 price target on Evolent Health and gave the stock a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded Evolent Health from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Cowen and Company reiterated an “outperform” rating and set a $33.00 price objective (down from $35.00) on shares of Evolent Health in a report on Wednesday, August 9th. BidaskClub downgraded Evolent Health from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $30.00 price objective on shares of Evolent Health in a report on Thursday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $28.70.
Shares of Evolent Health (EVH) opened at $13.25 on Friday. Evolent Health has a fifty-two week low of $13.20 and a fifty-two week high of $27.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.89 and a current ratio of 1.89.
Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.04. Evolent Health had a negative return on equity of 5.27% and a negative net margin of 15.86%. The company had revenue of $107.90 million during the quarter, compared to the consensus estimate of $104.49 million. During the same period in the prior year, the company earned ($0.26) earnings per share. The company’s revenue for the quarter was up 79.2% compared to the same quarter last year. research analysts anticipate that Evolent Health will post -0.54 EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of EVH. FMR LLC grew its stake in Evolent Health by 117.7% in the second quarter. FMR LLC now owns 9,864,775 shares of the technology company’s stock valued at $250,073,000 after purchasing an additional 5,333,252 shares in the last quarter. Riverbridge Partners LLC bought a new position in Evolent Health in the second quarter valued at approximately $58,878,000. Vanguard Group Inc. grew its stake in Evolent Health by 48.9% in the second quarter. Vanguard Group Inc. now owns 3,769,869 shares of the technology company’s stock valued at $95,566,000 after purchasing an additional 1,237,941 shares in the last quarter. Eagle Asset Management Inc. bought a new position in Evolent Health in the second quarter valued at approximately $27,577,000. Finally, Kornitzer Capital Management Inc. KS bought a new position in Evolent Health in the third quarter valued at approximately $14,258,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.
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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