Evolent Health Inc. (NYSE:EVH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Evolent Health, Inc. is involved in the healthcare delivery and payment markets. The company provides technology-enabled services platform for providers to transition their organization in value-based payment models. Evolent Health, Inc. is based in Arlington, Virginia. “

Other equities research analysts also recently issued reports about the company. Leerink Swann restated a “buy” rating on shares of Evolent Health in a report on Wednesday. Canaccord Genuity restated a “buy” rating and set a $30.00 price objective on shares of Evolent Health in a report on Sunday, August 7th. FBR & Co lifted their price objective on Evolent Health from $16.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, July 13th. Jefferies Group began coverage on Evolent Health in a report on Tuesday, July 26th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, William Blair restated an “outperform” rating on shares of Evolent Health in a report on Friday, September 30th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $22.50.

Analyst Recommendations for Evolent Health (NYSE:EVH)

Shares of Evolent Health (NYSE:EVH) opened at 24.84 on Wednesday. Evolent Health has a one year low of $8.14 and a one year high of $26.84. The company’s 50 day moving average price is $23.77 and its 200 day moving average price is $18.27. The firm’s market capitalization is $1.50 billion.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the 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 company had revenue of $56.50 million for the quarter, compared to the consensus estimate of $51.96 million. During the same period in the previous year, the business earned ($0.95) EPS. Evolent Health’s revenue for the quarter was up 443.3% compared to the same quarter last year. On average, analysts expect that Evolent Health will post ($0.54) EPS for the current fiscal year.

In related news, CEO Frank J. Williams sold 251,481 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $21.54, for a total transaction of $5,416,900.74. Following the completion of the transaction, the chief executive officer now directly owns 1,304,799 shares in the company, valued at approximately $28,105,370.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Board Co Advisory sold 1,936,529 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $22.50, for a total value of $43,571,902.50. Following the transaction, the insider now owns 4,445,879 shares of the company’s stock, valued at $100,032,277.50. 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 modified their holdings of the company. Barclays PLC bought a new position in shares of Evolent Health during the second quarter worth approximately $144,000. American International Group Inc. increased its position in shares of 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 during the last quarter. Nationwide Fund Advisors increased its position in shares of 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 during the last quarter. Metropolitan Life Insurance Co. NY bought a new position in shares of Evolent Health during the second quarter worth approximately $199,000. Finally, Alliancebernstein L.P. bought a new position in shares of Evolent Health during the second quarter worth approximately $278,000. Hedge funds and other institutional investors own 40.22% of the company’s stock.

Evolent Health Company Profile

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.

5 Day Chart for NYSE:EVH

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