Evolent Health Inc. (EVH) Given a $28.00 Price Target by Jefferies Group Analysts
A number of other equities research analysts also recently issued reports on the company. Leerink Swann reissued a buy rating on shares of Evolent Health in a research report on Wednesday. William Blair restated an outperform rating on shares of Evolent Health in a research note on Friday, September 30th. Canaccord Genuity set a $30.00 price objective on Evolent Health and gave the stock a buy rating in a research note on Wednesday, September 28th. Finally, FBR & Co boosted their price objective on Evolent Health from $24.00 to $26.00 and gave the stock an outperform rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $22.50.
Evolent Health (NYSE:EVH) traded up 4.53% on Tuesday, reaching $25.36. The company had a trading volume of 496,182 shares. The stock has a 50 day moving average of $23.74 and a 200 day moving average of $18.17. The firm’s market capitalization is $1.53 billion. Evolent Health has a 12 month low of $8.14 and a 12 month high of $26.84.
Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.04. Evolent Health had a negative return on equity of 5.04% and a negative net margin of 76.55%. The firm earned $56.50 million during the quarter, compared to the consensus estimate of $51.96 million. During the same quarter in the previous year, the business earned ($0.95) earnings per share. The firm’s quarterly revenue was up 443.3% compared to the same quarter last year. On average, analysts anticipate that Evolent Health will post ($0.54) EPS for the current year.
In related news, CEO Frank J. Williams sold 251,481 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $21.54, for a total value of $5,416,900.74. Following the transaction, the chief executive officer now owns 1,304,799 shares in the company, valued at $28,105,370.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Board Co Advisory sold 317,712 shares of the business’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $22.50, for a total value of $7,148,520.00. Following the completion of the transaction, the insider now owns 4,128,167 shares in the company, valued at approximately $92,883,757.50. The disclosure for this sale can be found here. 8.85% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVH. Schwab Charles Investment Management Inc. boosted its position in Evolent Health by 1.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 42,784 shares of the company’s stock valued at $822,000 after buying an additional 504 shares during the period. Nationwide Fund Advisors boosted its stake in shares of Evolent Health by 8.5% in the second quarter. Nationwide Fund Advisors now owns 10,109 shares of the company’s stock valued at $194,000 after buying an additional 789 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Evolent Health by 1.3% in the first quarter. Geode Capital Management LLC now owns 75,085 shares of the company’s stock valued at $792,000 after buying an additional 948 shares during the last quarter. American International Group Inc. boosted its stake in shares of Evolent Health by 14.9% in the second quarter. American International Group Inc. now owns 8,761 shares of the company’s stock valued at $168,000 after buying an additional 1,134 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its stake in shares of Evolent Health by 12.9% in the second quarter. Salem Investment Counselors Inc. now owns 27,080 shares of the company’s stock valued at $520,000 after buying an additional 3,100 shares during the last quarter. Institutional investors and hedge funds own 40.22% of the company’s stock.
Evolent Health Company Profile
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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