Evolent Health, Inc (NYSE:EVH)‘s stock had its “buy” rating restated by investment analysts at Robert W. Baird in a report issued on Wednesday. They currently have a $25.00 target price on the technology company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 53.85% from the company’s previous close.
Several other equities analysts have also recently issued reports on EVH. Zacks Investment Research cut shares of Evolent Health from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Cowen and Company reaffirmed an “outperform” rating and issued a $33.00 price objective (down from $35.00) on shares of Evolent Health in a research note on Wednesday, August 9th. BidaskClub lowered shares of Evolent Health from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. ValuEngine lowered shares of Evolent Health from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Evolent Health in a research note on Friday, August 18th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $28.30.
Evolent Health (NYSE EVH) opened at 16.25 on Wednesday. The firm has a 50-day moving average of $17.01 and a 200-day moving average of $17.06. The company’s market capitalization is $1.07 billion. Evolent Health has a 52 week low of $14.50 and a 52 week high of $27.50.
Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Monday, August 7th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). Evolent Health had a negative net margin of 17.57% and a negative return on equity of 6.44%. The firm had revenue of $107.30 million during the quarter, compared to analysts’ expectations of $104.45 million. During the same period in the prior year, the company posted ($0.20) EPS. The company’s revenue was up 89.9% on a year-over-year basis. Equities analysts expect that Evolent Health will post ($0.40) earnings per share for the current fiscal year.
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In related news, CEO Frank J. Williams sold 16,300 shares of the 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. 8.79% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gradient Investments LLC boosted its stake in Evolent Health by 3.0% during the second quarter. Gradient Investments LLC now owns 16,719 shares of the technology company’s stock worth $424,000 after acquiring an additional 489 shares in the last quarter. American International Group Inc. boosted its stake in Evolent Health by 7.5% during the first quarter. American International Group Inc. now owns 9,403 shares of the technology company’s stock worth $210,000 after acquiring an additional 653 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Evolent Health by 6.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 63,180 shares of the technology company’s stock worth $1,409,000 after acquiring an additional 3,591 shares in the last quarter. Geode Capital Management LLC boosted its stake in Evolent Health by 3.1% during the first quarter. Geode Capital Management LLC now owns 130,053 shares of the technology company’s stock worth $2,900,000 after acquiring an additional 3,889 shares in the last quarter. Finally, ETF Managers Group LLC bought a new position in Evolent Health during the second quarter worth $102,000. 89.64% of the stock is currently owned by institutional investors and hedge funds.
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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