Evolent Health Inc (NYSE:EVH) has been given an average recommendation of “Buy” by the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $27.78.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised Evolent Health from a “sell” rating to a “hold” rating in a report on Monday, October 9th. Citigroup assumed coverage on Evolent Health in a report on Thursday, January 4th. They issued a “buy” rating for the company. Canaccord Genuity reissued a “buy” rating and issued a $32.00 price target on shares of Evolent Health in a report on Friday, October 6th. Goldman Sachs Group downgraded Evolent Health from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $30.00 price target on shares of Evolent Health in a report on Thursday, November 2nd.
Several institutional investors have recently added to or reduced their stakes in EVH. FMR LLC lifted its holdings in shares of Evolent Health by 117.7% during the second quarter. FMR LLC now owns 9,864,775 shares of the technology company’s stock worth $250,073,000 after purchasing an additional 5,333,252 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Evolent Health by 37.3% during the third quarter. JPMorgan Chase & Co. now owns 7,465,019 shares of the technology company’s stock worth $136,236,000 after purchasing an additional 2,026,893 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Evolent Health by 48.9% during the second quarter. Vanguard Group Inc. now owns 3,769,869 shares of the technology company’s stock worth $95,566,000 after purchasing an additional 1,237,941 shares during the period. Kornitzer Capital Management Inc. KS acquired a new stake in shares of Evolent Health during the third quarter worth about $14,258,000. Finally, Jennison Associates LLC acquired a new stake in shares of Evolent Health during the third quarter worth about $12,531,000. 95.42% of the stock is owned by hedge funds and other institutional investors.
Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.04. The business had revenue of $107.90 million during the quarter, compared to the consensus estimate of $104.49 million. Evolent Health had a negative return on equity of 5.05% and a negative net margin of 15.86%. The company’s quarterly revenue was up 79.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.26) earnings per share. sell-side analysts forecast that Evolent Health will post -0.57 EPS for the current year.
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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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