Evolent Health Inc (NYSE:EVH) Receives Average Recommendation of “Buy” from Brokerages

Evolent Health Inc (NYSE:EVH) has been given an average rating of “Buy” by the nine brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $16.75.

Several research analysts recently commented on the company. Cantor Fitzgerald set a $16.00 target price on Evolent Health and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Cowen set a $18.00 target price on Evolent Health and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Piper Jaffray Companies set a $10.00 target price on Evolent Health and gave the stock a “buy” rating in a research note on Tuesday, September 10th. ValuEngine raised Evolent Health from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research downgraded Evolent Health from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th.

In other Evolent Health news, Director Kenneth A. Samet purchased 7,200 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $7.04 per share, with a total value of $50,688.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Doug S. Aron bought 10,550 shares of Evolent Health stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of $8.20 per share, with a total value of $86,510.00. Insiders have acquired a total of 32,750 shares of company stock valued at $242,648 over the last ninety days. 4.50% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Evolent Health by 9.1% in the 2nd quarter. Vanguard Group Inc. now owns 6,570,526 shares of the technology company’s stock valued at $52,236,000 after purchasing an additional 548,064 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Evolent Health by 5.9% in the 2nd quarter. BlackRock Inc. now owns 5,073,428 shares of the technology company’s stock valued at $40,334,000 after purchasing an additional 282,951 shares during the last quarter. Riverbridge Partners LLC lifted its holdings in shares of Evolent Health by 0.7% in the 3rd quarter. Riverbridge Partners LLC now owns 3,428,455 shares of the technology company’s stock valued at $24,651,000 after purchasing an additional 24,929 shares during the last quarter. Cortina Asset Management LLC lifted its holdings in shares of Evolent Health by 15.9% in the 2nd quarter. Cortina Asset Management LLC now owns 1,677,508 shares of the technology company’s stock valued at $13,336,000 after purchasing an additional 230,638 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Evolent Health by 110.0% in the 2nd quarter. Marshall Wace LLP now owns 1,613,272 shares of the technology company’s stock valued at $12,825,000 after purchasing an additional 844,888 shares during the last quarter. 94.33% of the stock is owned by institutional investors and hedge funds.

EVH traded up $0.08 on Monday, hitting $7.54. 675,400 shares of the company were exchanged, compared to its average volume of 1,375,550. Evolent Health has a twelve month low of $5.50 and a twelve month high of $26.96. The company has a market cap of $637.27 million, a price-to-earnings ratio of -21.54 and a beta of 1.06. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $7.39 and a two-hundred day moving average price of $9.23.

Evolent Health (NYSE:EVH) last released its earnings results on Tuesday, August 6th. The technology company reported ($0.26) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.03. Evolent Health had a negative return on equity of 6.47% and a negative net margin of 14.67%. The firm had revenue of $192.00 million during the quarter, compared to analysts’ expectations of $192.51 million. During the same period in the previous year, the firm posted ($0.03) EPS. Evolent Health’s revenue for the quarter was up 33.1% on a year-over-year basis. Equities analysts expect that Evolent Health will post -0.96 EPS for the current year.

Evolent Health Company Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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Analyst Recommendations for Evolent Health (NYSE:EVH)

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