Evolent Health’s (EVH) “Buy” Rating Reiterated at J P Morgan Chase & Co
Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Evolent Health from a hold rating to a buy rating and set a $26.00 price target on the stock in a report on Wednesday, May 3rd. TheStreet upgraded shares of Evolent Health from a d rating to a c- rating in a report on Monday, May 22nd. Robert W. Baird initiated coverage on shares of Evolent Health in a report on Thursday, June 1st. They set an outperform rating and a $30.00 price target on the stock. Leerink Swann restated an outperform rating and set a $32.00 price target (up previously from $30.00) on shares of Evolent Health in a report on Monday, June 19th. Finally, Cowen and Company restated an outperform rating and set a $35.00 price target on shares of Evolent Health in a report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $29.90.
Shares of Evolent Health (NYSE:EVH) opened at 17.05 on Friday. The stock’s 50 day moving average price is $23.54 and its 200-day moving average price is $22.66. Evolent Health has a 12-month low of $14.50 and a 12-month high of $27.50. The firm’s market capitalization is $1.12 billion.
Evolent Health (NYSE:EVH) last released its earnings results on Monday, August 7th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.13). Evolent Health had a negative net margin of 17.57% and a negative return on equity of 6.44%. The company had revenue of $107.30 million during the quarter, compared to the consensus estimate of $104.45 million. During the same quarter in the prior year, the firm earned ($0.20) EPS. The company’s revenue was up 89.9% compared to the same quarter last year. On average, equities analysts expect that Evolent Health will post ($0.42) EPS for the current year.
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In related news, CEO Frank J. Williams sold 16,300 shares of Evolent Health stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $23.73, for a total value of $386,799.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Nicholas Mcgrane sold 1,667 shares of Evolent Health stock in a transaction on Monday, June 12th. The stock was sold at an average price of $24.58, for a total transaction of $40,974.86. The disclosure for this sale can be found here. Insiders sold a total of 4,398,253 shares of company stock worth $113,721,009 in the last quarter. Insiders own 8.79% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in EVH. FMR LLC increased its position in shares of Evolent Health by 117.7% in the second quarter. FMR LLC now owns 9,864,775 shares of the technology company’s stock valued at $250,073,000 after buying an additional 5,333,252 shares during the period. JPMorgan Chase & Co. increased its position in shares of Evolent Health by 123.0% in the first quarter. JPMorgan Chase & Co. now owns 5,058,941 shares of the technology company’s stock valued at $112,815,000 after buying an additional 2,790,791 shares during the period. Riverbridge Partners LLC purchased a new position in shares of Evolent Health during the second quarter valued at approximately $58,878,000. Vanguard Group Inc. increased its position in shares of Evolent Health by 48.9% in the second quarter. Vanguard Group Inc. now owns 3,769,869 shares of the technology company’s stock valued at $95,566,000 after buying an additional 1,237,941 shares during the period. Finally, Eagle Asset Management Inc. purchased a new position in shares of Evolent Health during the second quarter valued at approximately $27,577,000. Hedge funds and other institutional investors own 68.08% 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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