Zacks Investment Research Downgrades Evolent Health Inc (EVH) to Hold

Zacks Investment Research cut shares of Evolent Health Inc (NYSE:EVH) from a buy rating to a hold rating in a research note published on Thursday, May 4th.

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 research firms also recently weighed in on EVH. Jefferies Group LLC reiterated a buy rating and issued a $28.00 price target on shares of Evolent Health in a research report on Thursday, April 13th. CIBC began coverage on shares of Evolent Health in a research report on Tuesday, March 14th. They issued an outperform rating for the company. Oppenheimer Holdings Inc. began coverage on shares of Evolent Health in a research report on Monday, March 13th. They issued an outperform rating and a $28.00 price target for the company. Leerink Swann set a $24.00 price target on shares of Evolent Health and gave the company a buy rating in a research report on Tuesday, February 28th. Finally, Cantor Fitzgerald reiterated a buy rating and issued a $26.00 price target on shares of Evolent Health in a research report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Evolent Health presently has a consensus rating of Buy and a consensus target price of $27.67.

Evolent Health (NYSE:EVH) traded up 1.29% during mid-day trading on Thursday, hitting $23.55. The stock had a trading volume of 839,302 shares. The stock has a 50 day moving average of $22.98 and a 200-day moving average of $19.68. The firm’s market cap is $1.36 billion. Evolent Health has a 1-year low of $13.37 and a 1-year high of $26.84.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Tuesday, May 9th. The technology company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.11. Evolent Health had a negative net margin of 69.04% and a negative return on equity of 5.54%. The business had revenue of $106.80 million during the quarter, compared to analyst estimates of $104.38 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. The firm’s quarterly revenue was up 116.2% on a year-over-year basis. Analysts predict that Evolent Health will post ($0.41) EPS for the current fiscal year.

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In related news, COO Thomas Peterson III sold 18,604 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $25.00, for a total value of $465,100.00. Following the sale, the chief operating officer now owns 395,587 shares in the company, valued at approximately $9,889,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Board Co Advisory sold 2,118,078 shares of the company’s stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $19.53, for a total transaction of $41,366,063.34. Following the completion of the sale, the insider now owns 6,246,245 shares in the company, valued at approximately $121,989,164.85. The disclosure for this sale can be found here. Insiders have sold 5,429,363 shares of company stock worth $106,975,203 in the last ninety days. Insiders own 8.85% of the company’s stock.

A number of large investors have recently modified their holdings of the company. Peregrine Capital Management LLC purchased a new stake in shares of Evolent Health during the third quarter worth about $26,294,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Evolent Health during the third quarter worth about $13,018,000. UBS Asset Management Americas Inc. increased its stake in shares of Evolent Health by 5.6% in the third quarter. UBS Asset Management Americas Inc. now owns 15,000 shares of the technology company’s stock worth $369,000 after buying an additional 800 shares during the last quarter. Swiss National Bank increased its stake in shares of Evolent Health by 33.1% in the third quarter. Swiss National Bank now owns 43,800 shares of the technology company’s stock worth $1,078,000 after buying an additional 10,900 shares during the last quarter. Finally, Monashee Investment Management LLC purchased a new stake in shares of Evolent Health during the third quarter worth about $5,554,000. 52.14% of the stock is 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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