Evolent Health, Inc (NYSE:EVH)‘s stock had its “outperform” rating reaffirmed by stock analysts at Cowen and Company in a research report issued to clients and investors on Friday. They currently have a $29.00 target price on the technology company’s stock, down from their previous target price of $33.00. Cowen and Company’s price objective would indicate a potential upside of 59.78% from the company’s previous close.
Several other brokerages also recently issued reports on EVH. BidaskClub downgraded shares of Evolent Health from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Jefferies Group LLC restated a “buy” rating and set a $28.00 price objective on shares of Evolent Health in a research report on Wednesday, September 6th. ValuEngine downgraded shares of Evolent Health from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. J P Morgan Chase & Co restated a “buy” rating on shares of Evolent Health in a research report on Friday, August 18th. Finally, Leerink Swann set a $32.00 price objective on shares of Evolent Health and gave the stock a “buy” rating in a research report on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, twelve have given a buy rating and one has given a strong buy rating to the company. Evolent Health has a consensus rating of “Buy” and an average target price of $28.45.
Evolent Health (NYSE:EVH) opened at 18.15 on Friday. The firm’s market cap is $1.19 billion. Evolent Health has a 12-month low of $14.50 and a 12-month high of $25.66. The firm has a 50-day moving average price of $17.43 and a 200 day moving average price of $17.43.
Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Monday, August 7th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.13). The firm had revenue of $107.30 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted ($0.20) earnings per share. Equities research analysts forecast that Evolent Health will post ($0.41) EPS for the current year.
In other news, COO Thomas Peterson III sold 40,540 shares of Evolent Health stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $26.00, for a total value of $1,054,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank J. Williams sold 16,300 shares of Evolent Health stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $23.73, for a total transaction of $386,799.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,507 shares of company stock valued at $1,631,054. 8.79% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new position in Evolent Health during the second quarter valued at approximately $635,000. Castleark Management LLC acquired a new position in Evolent Health during the second quarter valued at approximately $14,299,000. California State Teachers Retirement System raised its position in Evolent Health by 116.8% during the second quarter. California State Teachers Retirement System now owns 68,315 shares of the technology company’s stock valued at $1,732,000 after purchasing an additional 36,800 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Evolent Health by 123.6% during the second quarter. The Manufacturers Life Insurance Company now owns 30,005 shares of the technology company’s stock valued at $760,000 after purchasing an additional 16,587 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in Evolent Health by 492.2% during the second quarter. Cubist Systematic Strategies LLC now owns 82,874 shares of the technology company’s stock valued at $2,101,000 after purchasing an additional 68,880 shares in the last quarter. Institutional investors and hedge funds own 82.51% 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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