Evolent Health Inc. (NYSE:EVH) dropped 1.1% during mid-day trading on Monday . The stock traded as low as $18.56 and last traded at $18.57, with a volume of 104,256 shares changing hands. The stock had previously closed at $18.78.

EVH has been the topic of several recent analyst reports. William Blair reiterated a “buy” rating on shares of Evolent Health in a research report on Friday, March 18th. Leerink Swann reiterated a “buy” rating and set a $20.00 price objective on shares of Evolent Health in a research report on Monday, May 16th. FBR & Co initiated coverage on shares of Evolent Health in a research report on Tuesday, March 29th. They set an “outperform” rating and a $16.00 price objective on the stock. Canaccord Genuity initiated coverage on shares of Evolent Health in a research report on Wednesday, June 1st. They set a “buy” rating on the stock. Finally, Zacks Investment Research cut shares of Evolent Health from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $19.40.

The firm has a market cap of $1.28 billion and a P/E ratio of 5.68. The firm has a 50 day moving average of $16.95 and a 200 day moving average of $12.42.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, May 12th. The company reported ($0.16) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.03. The business earned $49.50 million during the quarter, compared to analyst estimates of $47.40 million. The company’s revenue was up 33.8% on a year-over-year basis. On average, equities analysts forecast that Evolent Health Inc. will post ($0.62) EPS for the current fiscal year.

An institutional investor recently raised its position in Evolent Health stock. Wells Fargo & Company MN increased its stake in Evolent Health Inc. (NYSE:EVH) by 22.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 808,909 shares of the company’s stock after buying an additional 145,685 shares during the period. Wells Fargo & Company MN owned approximately 1.37% of Evolent Health worth $9,796,000 at the end of the most recent quarter.

Evolent Health, Inc supports integrated health systems in their migration towards value-based care and population health management. The Company’s services include providing customers with a population management platform, integrated data and analytics capabilities, pharmacy benefit management services and health plan administration services.

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