Evolent Health Inc (NYSE:EVH) – Equities researchers at Leerink Swann dropped their Q2 2017 earnings estimates for Evolent Health in a research note issued on Wednesday. Leerink Swann analyst D. Larsen now expects that the technology company will post earnings per share of ($0.11) for the quarter, down from their prior forecast of ($0.10). Leerink Swann currently has a “Buy” rating and a $24.00 price target on the stock. Leerink Swann also issued estimates for Evolent Health’s Q3 2017 earnings at ($0.08) EPS, Q4 2017 earnings at ($0.03) EPS, FY2017 earnings at ($0.45) EPS and FY2018 earnings at ($0.02) EPS.

A number of other analysts have also commented on EVH. Zacks Investment Research upgraded Evolent Health from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Friday, January 20th. Canaccord Genuity reiterated a “buy” rating and issued a $31.00 price objective on shares of Evolent Health in a research report on Friday, February 3rd. Cantor Fitzgerald reiterated a “buy” rating and issued a $26.00 price objective on shares of Evolent Health in a research report on Wednesday, March 1st. Goldman Sachs Group Inc upgraded Evolent Health from a “buy” rating to a “conviction-buy” rating and set a $30.00 price objective for the company in a research report on Wednesday, March 8th. Finally, Oppenheimer Holdings Inc. started coverage on Evolent Health in a research report on Monday, March 13th. They issued an “outperform” rating and a $28.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $27.67.

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Shares of Evolent Health (NYSE:EVH) opened at 24.05 on Monday. The firm’s market cap is $1.26 billion. Evolent Health has a 12-month low of $11.11 and a 12-month high of $26.84. The company has a 50-day moving average of $22.70 and a 200 day moving average of $19.59.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Tuesday, May 9th. The technology company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.15) by $0.11. The company had revenue of $106.80 million during the quarter, compared to analyst estimates of $104.38 million. Evolent Health had a negative return on equity of 5.54% and a negative net margin of 69.04%. The business’s revenue for the quarter was up 116.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.16) EPS.

In other Evolent Health news, major shareholder Board Co Advisory sold 2,118,078 shares of the firm’s stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $19.53, for a total transaction of $41,366,063.34. Following the transaction, the insider now owns 6,246,245 shares in the company, valued at $121,989,164.85. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nicholas Mcgrane sold 1,667 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $24.28, for a total value of $40,474.76. Following the transaction, the insider now owns 132,047 shares in the company, valued at approximately $3,206,101.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,331,255 shares of company stock worth $104,523,334. Company insiders own 8.85% of the company’s stock.

A number of institutional investors have recently modified their holdings of EVH. Systematic Financial Management LP boosted its position in shares of Evolent Health by 11.2% in the fourth quarter. Systematic Financial Management LP now owns 190,130 shares of the technology company’s stock worth $2,814,000 after buying an additional 19,210 shares during the period. Monashee Investment Management LLC bought a new position in shares of Evolent Health during the third quarter worth about $5,554,000. Highbridge Capital Management LLC bought a new position in shares of Evolent Health during the fourth quarter worth about $1,390,000. United Services Automobile Association boosted its position in shares of Evolent Health by 49.6% in the third quarter. United Services Automobile Association now owns 196,990 shares of the technology company’s stock worth $4,850,000 after buying an additional 65,350 shares during the period. Finally, Nicholas Investment Partners LP bought a new position in shares of Evolent Health during the fourth quarter worth about $1,943,000. Hedge funds and other institutional investors own 52.14% of the company’s stock.

About Evolent Health

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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