Evolent Health Inc. (EVH) Stock Rating Reaffirmed by Canaccord Genuity
Evolent Health Inc. (NYSE:EVH)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity in a research note issued to investors on Sunday. They presently have a $31.00 price target on the stock. Canaccord Genuity’s target price points to a potential upside of 81.29% from the stock’s current price.
A number of other research firms have also recently commented on EVH. Zacks Investment Research raised shares of Evolent Health from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Tuesday, October 11th. Jefferies Group set a $28.00 price objective on shares of Evolent Health and gave the company a “buy” rating in a report on Tuesday, October 4th. Leerink Swann reiterated a “buy” rating on shares of Evolent Health in a report on Wednesday, October 5th. FBR & Co raised their price objective on shares of Evolent Health from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Finally, William Blair reiterated an “outperform” rating on shares of Evolent Health in a report on Friday, September 30th. Seven research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $27.17.
Evolent Health (NYSE:EVH) opened at 17.10 on Friday. The firm has a 50-day moving average of $22.40 and a 200-day moving average of $20.25. The company’s market cap is $1.03 billion. Evolent Health has a 52 week low of $8.14 and a 52 week high of $26.84.
Evolent Health (NYSE:EVH) last posted its earnings results on Wednesday, November 9th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The firm earned $60.20 million during the quarter, compared to analysts’ expectations of $58.35 million. Evolent Health had a negative net margin of 69.04% and a negative return on equity of 5.43%. The business’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.16) earnings per share. Equities analysts forecast that Evolent Health will post ($0.57) earnings per share for the current year.
In other Evolent Health news, major shareholder Board Co Advisory sold 317,712 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $22.50, for a total transaction of $7,148,520.00. Following the completion of the sale, the insider now owns 4,128,167 shares of the company’s stock, valued at approximately $92,883,757.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Seth Blackley sold 167,672 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $21.54, for a total transaction of $3,611,654.88. Following the sale, the president now directly owns 869,848 shares of the company’s stock, valued at approximately $18,736,525.92. The disclosure for this sale can be found here. Company insiders own 8.85% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Evolent Health by 23.8% in the third quarter. BlackRock Inc. now owns 4,506 shares of the company’s stock worth $111,000 after buying an additional 867 shares in the last quarter. Barclays PLC purchased a new stake in Evolent Health during the second quarter worth $144,000. American International Group Inc. increased its stake 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. BlackRock Group LTD increased its stake in Evolent Health by 201.3% in the third quarter. BlackRock Group LTD now owns 7,270 shares of the company’s stock worth $178,000 after buying an additional 4,857 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake 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. 39.42% of the stock is owned by institutional investors and hedge funds.
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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