Evolent Health Inc. (EVH) Receives Outperform Rating from Leerink Swann
Evolent Health Inc. (NYSE:EVH)‘s stock had its “outperform” rating reissued by stock analysts at Leerink Swann in a note issued to investors on Monday. They presently have a $24.00 price objective on the stock. Leerink Swann’s price target indicates a potential upside of 26.65% from the stock’s previous close.
A number of other research firms have also issued reports on EVH. Zacks Investment Research upgraded shares of Evolent Health from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Tuesday, October 11th. Canaccord Genuity reiterated a “buy” rating and issued a $30.00 target price on shares of Evolent Health in a research note on Sunday, August 7th. Jefferies Group set a $28.00 target price on shares of Evolent Health and gave the company a “buy” rating in a research note on Tuesday, October 4th. FBR & Co raised their target price on shares of Evolent Health from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Finally, William Blair reiterated an “outperform” rating on shares of Evolent Health in a research note on Friday, September 30th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $27.83.
Shares of Evolent Health (NYSE:EVH) opened at 18.95 on Monday. The company’s 50-day moving average is $21.76 and its 200 day moving average is $20.46. The firm’s market cap is $1.29 billion. Evolent Health has a 1-year low of $8.14 and a 1-year high of $26.84.
Evolent Health (NYSE:EVH) last released its quarterly earnings results on Wednesday, November 9th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Evolent Health had a negative net margin of 69.04% and a negative return on equity of 5.54%. The business had revenue of $60.20 million for the quarter, compared to the consensus estimate of $58.35 million. During the same quarter last year, the firm earned ($0.16) EPS. Evolent Health’s revenue for the quarter was up 39.0% on a year-over-year basis. On average, equities research analysts expect that Evolent Health will post ($0.57) EPS for the current fiscal year.
In other news, President Seth Blackley sold 167,672 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the president now directly owns 869,848 shares of the company’s stock, valued at approximately $18,736,525.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael D’amato acquired 10,000 shares of Evolent Health stock in a transaction dated Monday, November 14th. The shares were acquired at an average cost of $17.18 per share, with a total value of $171,800.00. Following the completion of the acquisition, the director now directly owns 18,183 shares in the company, valued at approximately $312,383.94. The disclosure for this purchase can be found here. Insiders own 8.85% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Blair William & Co. IL increased its position in Evolent Health by 205.5% in the second quarter. Blair William & Co. IL now owns 341,570 shares of the company’s stock worth $6,558,000 after buying an additional 229,748 shares during the last quarter. Swiss National Bank increased its position in Evolent Health by 90.2% in the second quarter. Swiss National Bank now owns 32,900 shares of the company’s stock worth $632,000 after buying an additional 15,600 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in Evolent Health during the second quarter worth approximately $1,565,000. Systematic Financial Management LP acquired a new position in Evolent Health during the second quarter worth approximately $3,480,000. Finally, Schwab Charles Investment Management Inc. increased its position in Evolent Health by 1.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 42,784 shares of the company’s stock worth $822,000 after buying an additional 504 shares during the last quarter. 37.14% of the stock is owned by institutional investors.
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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