Evolent Health Inc. (EVH) Given a $28.00 Price Target by Jefferies Group Analysts
A number of other equities research analysts have also issued reports on EVH. FBR & Co increased their price target on Evolent Health from $16.00 to $24.00 and gave the company an outperform rating in a research report on Wednesday, July 13th. Canaccord Genuity reaffirmed a buy rating and issued a $30.00 price target on shares of Evolent Health in a research report on Wednesday, July 13th. Leerink Swann reaffirmed an outperform rating and issued a $20.00 price target on shares of Evolent Health in a research report on Sunday, July 17th. Finally, William Blair reaffirmed an outperform rating on shares of Evolent Health in a research report on Friday, September 30th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $22.50.
Evolent Health (NYSE:EVH) traded up 4.53% during midday trading on Tuesday, hitting $25.36. The company had a trading volume of 496,182 shares. The firm has a 50-day moving average price of $23.74 and a 200-day moving average price of $18.17. Evolent Health has a 12 month low of $8.14 and a 12 month high of $26.84. The company’s market cap is $1.53 billion.
Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, August 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.04. Evolent Health had a negative return on equity of 5.04% and a negative net margin of 76.55%. The firm had revenue of $56.50 million for the quarter, compared to analyst estimates of $51.96 million. During the same quarter in the prior year, the company earned ($0.95) EPS. Evolent Health’s revenue was up 443.3% on a year-over-year basis. Equities analysts anticipate that Evolent Health will post ($0.54) EPS for the current year.
In other news, President Seth Blackley sold 167,672 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $21.54, for a total value of $3,611,654.88. Following the transaction, the president now owns 869,848 shares in the company, valued at approximately $18,736,525.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Board Co Advisory sold 317,712 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $22.50, for a total value of $7,148,520.00. Following the completion of the transaction, the insider now owns 4,128,167 shares in the company, valued at approximately $92,883,757.50. The disclosure for this sale can be found here. 8.85% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new position in Evolent Health during the second quarter worth about $144,000. American International Group Inc. increased its position in Evolent Health by 14.9% in the second quarter. American International Group Inc. now owns 8,761 shares of the company’s stock worth $168,000 after buying an additional 1,134 shares in the last quarter. Nationwide Fund Advisors increased its position in Evolent Health by 8.5% in the second quarter. Nationwide Fund Advisors now owns 10,109 shares of the company’s stock worth $194,000 after buying an additional 789 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in Evolent Health during the second quarter worth about $199,000. Finally, Alliancebernstein L.P. purchased a new position in Evolent Health during the second quarter worth about $278,000. Institutional investors and hedge funds own 40.22% of the company’s stock.
About Evolent Health
Evolent Health, Inc supports integrated health systems in their migration towards value-based care and population health management. The Company’s services include providing customers with a population management platform, integrated data and analytics capabilities, pharmacy benefit management services and health plan administration services.
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