Analysts Set Evolent Health, Inc (EVH) Target Price at $30.38
Evolent Health, Inc (NYSE:EVH) has been given an average recommendation of “Buy” by the sixteen research firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $30.38.
Several brokerages recently issued reports on EVH. BidaskClub lowered shares of Evolent Health from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Robert W. Baird reiterated an “outperform” rating and issued a $35.00 target price (up from $30.00) on shares of Evolent Health in a research report on Wednesday, June 14th. TheStreet upgraded shares of Evolent Health from a “d” rating to a “c-” rating in a research report on Monday, May 22nd. Leerink Swann reiterated an “outperform” rating and issued a $32.00 target price (up from $30.00) on shares of Evolent Health in a research report on Monday, June 19th. Finally, Zacks Investment Research lowered shares of Evolent Health from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th.
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In other Evolent Health news, CEO Steve Wigginton sold 6,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $25.07, for a total value of $150,420.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tpg Growth Ii Advisors, Inc. sold 4,279,325 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $25.87, for a total transaction of $110,706,137.75. The disclosure for this sale can be found here. Insiders sold 4,398,253 shares of company stock valued at $113,721,009 over the last three months. 8.79% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. ETF Managers Group LLC acquired a new stake in Evolent Health during the second quarter valued at $102,000. BNP Paribas Arbitrage SA increased its position in shares of Evolent Health by 815.4% in the second quarter. BNP Paribas Arbitrage SA now owns 4,751 shares of the technology company’s stock valued at $120,000 after buying an additional 4,232 shares during the period. US Bancorp DE increased its position in shares of Evolent Health by 0.3% in the first quarter. US Bancorp DE now owns 5,654 shares of the technology company’s stock valued at $126,000 after buying an additional 19 shares during the period. Point72 Asia Hong Kong Ltd purchased a new position in shares of Evolent Health during the first quarter valued at approximately $126,000. Finally, Bank of Montreal Can increased its position in shares of Evolent Health by 4,249.7% in the first quarter. Bank of Montreal Can now owns 6,220 shares of the technology company’s stock valued at $138,000 after buying an additional 6,077 shares during the period. 82.51% of the stock is owned by institutional investors and hedge funds.
Shares of Evolent Health (NYSE EVH) traded up 2.69% on Wednesday, hitting $17.15. The stock had a trading volume of 1,153,985 shares. Evolent Health has a 1-year low of $14.50 and a 1-year high of $27.50. The company’s market capitalization is $1.13 billion. The firm has a 50-day moving average of $21.30 and a 200 day moving average of $22.59.
Evolent Health (NYSE:EVH) last released its quarterly earnings results on Monday, August 7th. The technology company reported ($0.13) EPS for the quarter, meeting analysts’ consensus estimates of ($0.13). The firm had revenue of $107.30 million during the quarter, compared to analyst estimates of $104.45 million. Evolent Health had a negative net margin of 17.57% and a negative return on equity of 6.44%. The business’s revenue for the quarter was up 89.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.20) EPS. On average, equities analysts anticipate that Evolent Health will post ($0.42) earnings per share for the current fiscal year.
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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