Cantor Fitzgerald Reaffirms “Buy” Rating for Evolent Health (EVH)
Cantor Fitzgerald reissued their buy rating on shares of Evolent Health (NYSE:EVH) in a research report released on Sunday. The firm currently has a $30.00 price target on the technology company’s stock.
“Health plan acquisitions. Over the past few months, EVH has announced two small health plan acquisitions that should help to grow its platform and operations revenue and add a new line of business. The acquisition of Premier in Dayton, OH, is somewhat more concerning for investors as the regulatory filings show that the plan is in a loss position. However, many provider-owned health plans typically show losses in regulatory filings. The company is expecting to receive better pricing from Premier and that it is not considering additional health plan acquisitions, at least in the near term. However, it will continue to use capital to align the company with customers. Note, our estimates do not yet reflect the health plan acquisitions.”,” Cantor Fitzgerald’s analyst wrote.
Several other equities analysts have also recently weighed in on the stock. SunTrust Banks reissued a buy rating and issued a $30.00 price objective on shares of Evolent Health in a research note on Friday, November 3rd. Jefferies Group reissued a buy rating and issued a $28.00 price objective on shares of Evolent Health in a research note on Wednesday, September 6th. Goldman Sachs Group cut shares of Evolent Health from a conviction-buy rating to a buy rating in a research note on Tuesday, November 7th. Zacks Investment Research raised shares of Evolent Health from a sell rating to a hold rating in a research note on Monday, October 9th. Finally, Robert W. Baird reissued a buy rating and issued a $25.00 price objective on shares of Evolent Health in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $28.00.
Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. The firm had revenue of $107.90 million for the quarter, compared to the consensus estimate of $104.49 million. Evolent Health had a negative net margin of 15.86% and a negative return on equity of 5.05%. The company’s revenue was up 79.2% on a year-over-year basis. During the same period last year, the firm earned ($0.26) EPS. research analysts forecast that Evolent Health will post -0.57 EPS for the current year.
Several large investors have recently bought and sold shares of the company. Salem Investment Counselors Inc. raised its holdings in shares of Evolent Health by 280.3% in the 3rd quarter. Salem Investment Counselors Inc. now owns 158,705 shares of the technology company’s stock valued at $2,925,000 after purchasing an additional 116,975 shares in the last quarter. Granahan Investment Management Inc. MA raised its holdings in shares of Evolent Health by 32.6% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 426,764 shares of the technology company’s stock valued at $7,596,000 after purchasing an additional 104,876 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Evolent Health in the 3rd quarter valued at about $366,000. Grandeur Peak Global Advisors LLC raised its holdings in shares of Evolent Health by 58.6% in the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 19,625 shares of the technology company’s stock valued at $349,000 after purchasing an additional 7,250 shares in the last quarter. Finally, Sectoral Asset Management Inc raised its holdings in shares of Evolent Health by 22.5% in the 3rd quarter. Sectoral Asset Management Inc now owns 652,680 shares of the technology company’s stock valued at $11,618,000 after purchasing an additional 119,868 shares in the last quarter. Institutional investors and hedge funds own 95.38% 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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