Evolent Health Inc. (EVH) Hits New 52-Week High at $23.95
Evolent Health Inc. (NYSE:EVH) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.95 and last traded at $23.42, with a volume of 145,666 shares changing hands. The stock had previously closed at $23.15.
A number of research firms have issued reports on EVH. Canaccord Genuity reissued a “buy” rating on shares of Evolent Health in a research note on Thursday, May 26th. Leerink Swann reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Evolent Health in a research report on Sunday. Zacks Investment Research raised Evolent Health from a “sell” rating to a “hold” rating in a research report on Wednesday, May 18th. Finally, FBR & Co upped their price objective on Evolent Health from $16.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Evolent Health currently has a consensus rating of “Buy” and an average target price of $21.00.
The company has a market cap of $1.41 billion and a price-to-earnings ratio of 6.26. The stock has a 50 day moving average of $18.03 and a 200-day moving average of $12.81.
Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, May 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. The business had revenue of $49.50 million for the quarter, compared to the consensus estimate of $47.40 million. Evolent Health’s revenue for the quarter was up 33.8% on a year-over-year basis. Equities research analysts expect 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 raised its stake in shares of Evolent Health Inc. (NYSE:EVH) by 22.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.
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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