Evolent Health, Inc. (NYSE:EVH – Get Free Report) rose 6.7% on Tuesday . The stock traded as high as $10.67 and last traded at $10.65. Approximately 784,951 shares traded hands during trading, a decline of 67% from the average daily volume of 2,348,501 shares. The stock had previously closed at $9.98.
Wall Street Analyst Weigh In
Several brokerages have commented on EVH. BTIG Research dropped their price target on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Truist Financial dropped their price objective on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. JMP Securities reduced their target price on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating for the company in a research note on Friday, January 10th. Needham & Company LLC initiated coverage on Evolent Health in a research note on Friday, January 10th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Barclays reduced their price objective on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Evolent Health has an average rating of “Buy” and a consensus target price of $18.38.
Check Out Our Latest Stock Report on Evolent Health
Evolent Health Stock Up 1.5 %
Evolent Health (NYSE:EVH – Get Free Report) last announced its earnings results on Thursday, November 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.38). Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. The business had revenue of $621.40 million during the quarter, compared to analyst estimates of $625.58 million. During the same period in the previous year, the firm earned $0.19 earnings per share. As a group, equities research analysts predict that Evolent Health, Inc. will post 0.26 earnings per share for the current year.
Institutional Investors Weigh In On Evolent Health
Hedge funds have recently added to or reduced their stakes in the stock. Congress Asset Management Co. boosted its position in Evolent Health by 115.6% in the 4th quarter. Congress Asset Management Co. now owns 224,284 shares of the technology company’s stock valued at $2,523,000 after buying an additional 120,261 shares during the last quarter. Entropy Technologies LP boosted its holdings in Evolent Health by 247.6% in the fourth quarter. Entropy Technologies LP now owns 39,219 shares of the technology company’s stock valued at $441,000 after acquiring an additional 27,936 shares during the last quarter. Tempus Wealth Planning LLC bought a new position in Evolent Health in the fourth quarter valued at about $240,000. Chicago Capital LLC raised its holdings in Evolent Health by 209.1% during the 4th quarter. Chicago Capital LLC now owns 31,134 shares of the technology company’s stock worth $350,000 after purchasing an additional 21,061 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in Evolent Health by 50.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 13,643 shares of the technology company’s stock valued at $153,000 after purchasing an additional 4,547 shares during the period.
About Evolent Health
Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.
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