Zacks Investment Research upgraded shares of Evolent Health, Inc (NYSE:EVH) from a sell rating to a hold rating in a research note issued to investors on Monday morning.
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 have also commented on EVH. Leerink Swann reaffirmed an outperform rating and issued a $32.00 price objective (up from $30.00) on shares of Evolent Health in a research note on Monday, June 19th. BidaskClub lowered shares of Evolent Health from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Robert W. Baird reaffirmed an outperform rating and issued a $35.00 price objective (up from $30.00) on shares of Evolent Health in a research note on Wednesday, June 14th. Cowen and Company reaffirmed an outperform rating and issued a $35.00 price objective on shares of Evolent Health in a research note on Wednesday, June 28th. Finally, ValuEngine lowered shares of Evolent Health from a hold rating to a sell rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $28.45.
Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Monday, August 7th. The technology company reported ($0.13) EPS for the quarter, meeting the Zacks’ 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 company had revenue of $107.30 million for the quarter, compared to analyst estimates of $104.45 million. During the same period in the prior year, the firm posted ($0.20) EPS. The company’s quarterly revenue was up 89.9% on a year-over-year basis.
In related news, CEO Steve Wigginton sold 6,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $24.64, for a total transaction of $147,840.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Thomas Peterson III sold 40,540 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $26.00, for a total transaction of $1,054,040.00. The disclosure for this sale can be found here. Insiders have sold a total of 62,840 shares of company stock worth $1,588,679 in the last quarter. 8.79% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in EVH. FMR LLC lifted its position in shares of Evolent Health by 117.7% during the 2nd quarter. FMR LLC now owns 9,864,775 shares of the technology company’s stock valued at $250,073,000 after acquiring an additional 5,333,252 shares during the period. Riverbridge Partners LLC acquired a new position in shares of Evolent Health during the 2nd quarter valued at $58,878,000. Vanguard Group Inc. lifted its position in shares of Evolent Health by 48.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,769,869 shares of the technology company’s stock valued at $95,566,000 after acquiring an additional 1,237,941 shares during the period. Eagle Asset Management Inc. acquired a new position in shares of Evolent Health during the 2nd quarter valued at $27,577,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in shares of Evolent Health during the 1st quarter valued at $16,143,000. Institutional investors own 82.51% 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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