Zacks Investment Research cut shares of Evolent Health, Inc (NYSE:EVH) from a hold rating to a sell rating in a report published on Monday.

According to Zacks, “Evolent Health, Inc. is involved in the healthcare delivery and payment markets. The company provides technology-enabled services platform for providers to transition their organization in value-based payment models. Evolent Health, Inc. is based in Arlington, Virginia. “

A number of other equities research analysts have also recently issued reports on the stock. Jefferies Group LLC reissued a buy rating and set a $28.00 target price on shares of Evolent Health in a report on Wednesday, September 6th. Leerink Swann reissued an outperform rating and set a $32.00 target price (up previously from $30.00) on shares of Evolent Health in a report on Monday, June 19th. BidaskClub cut shares of Evolent Health from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. SunTrust Banks, Inc. reissued a buy rating and set a $30.00 target price on shares of Evolent Health in a report on Wednesday, September 20th. Finally, Cowen and Company reissued an outperform rating and set a $35.00 target price on shares of Evolent Health in a report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $28.73.

Shares of Evolent Health (NYSE:EVH) traded down 0.55% during midday trading on Monday, reaching $18.15. The company had a trading volume of 495,640 shares. The company has a 50 day moving average price of $17.39 and a 200-day moving average price of $17.39. Evolent Health has a one year low of $14.50 and a one year high of $25.66. The firm’s market capitalization is $1.19 billion.

Evolent Health (NYSE:EVH) last issued its earnings results on Monday, August 7th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, meeting 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 business had revenue of $107.30 million for the quarter, compared to analysts’ expectations of $104.45 million. During the same quarter in the previous year, the firm posted ($0.20) EPS. The business’s revenue for the quarter was up 89.9% compared to the same quarter last year. On average, analysts anticipate that Evolent Health will post ($0.41) EPS for the current fiscal year.

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In other news, CEO Frank J. Williams sold 16,300 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $23.73, for a total transaction of $386,799.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steve Wigginton sold 6,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $24.64, for a total transaction of $147,840.00. The disclosure for this sale can be found here. Insiders have sold a total of 64,507 shares of company stock valued at $1,631,054 over the last 90 days. Company insiders own 8.79% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ETF Managers Group LLC purchased a new position in Evolent Health in the second quarter worth $102,000. BNP Paribas Arbitrage SA grew its position in Evolent Health by 815.4% in the second quarter. BNP Paribas Arbitrage SA now owns 4,751 shares of the technology company’s stock worth $120,000 after acquiring an additional 4,232 shares in the last quarter. US Bancorp DE grew its position in Evolent Health by 0.3% in the first quarter. US Bancorp DE now owns 5,654 shares of the technology company’s stock worth $126,000 after acquiring an additional 19 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in Evolent Health in the first quarter worth $126,000. Finally, Bank of Montreal Can grew its position in 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 worth $138,000 after acquiring an additional 6,077 shares in the last quarter. Hedge funds and other institutional investors own 82.51% of the company’s stock.

Evolent Health Company Profile

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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