Evolent Health’s (EVH) Buy Rating Reaffirmed at Leerink Swann
EVH has been the subject of a number of other reports. Canaccord Genuity set a $30.00 target price on shares of Evolent Health and gave the company a buy rating in a research note on Wednesday, September 28th. William Blair reiterated an outperform rating on shares of Evolent Health in a research note on Friday, September 30th. Jefferies Group initiated coverage on shares of Evolent Health in a research note on Tuesday, July 26th. They issued a buy rating and a $28.00 target price for the company. Finally, FBR & Co lifted their target price on shares of Evolent Health from $24.00 to $26.00 and gave the company an outperform rating in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Evolent Health presently has an average rating of Buy and an average target price of $22.50.
Evolent Health (NYSE:EVH) opened at 25.15 on Wednesday. The stock has a 50 day moving average of $23.76 and a 200-day moving average of $18.22. Evolent Health has a 52 week low of $8.14 and a 52 week high of $26.84. The stock’s market cap is $1.51 billion.
Evolent Health (NYSE:EVH) last posted its 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. The firm earned $56.50 million during the quarter, compared to analysts’ expectations of $51.96 million. Evolent Health had a negative net margin of 76.55% and a negative return on equity of 5.04%. The company’s revenue was up 443.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.95) earnings per share. Analysts forecast that Evolent Health will post ($0.54) earnings per share for the current year.
In other news, major shareholder Board Co Advisory sold 1,936,529 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $22.50, for a total value of $43,571,902.50. Following the completion of the sale, the insider now directly owns 4,445,879 shares in the company, valued at $100,032,277.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Jonathan Weinberg sold 10,339 shares of the business’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $21.54, for a total transaction of $222,702.06. Following the completion of the sale, the general counsel now owns 76,245 shares of the company’s stock, valued at $1,642,317.30. The disclosure for this sale can be found here. 8.85% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in EVH. EAM Investors LLC bought a new position in shares of Evolent Health during the second quarter worth about $3,971,000. Emerald Acquisition Ltd. bought a new position in shares of Evolent Health during the second quarter worth about $1,301,000. Swiss National Bank raised its position in shares of Evolent Health by 90.2% in the second quarter. Swiss National Bank now owns 32,900 shares of the company’s stock worth $632,000 after buying an additional 15,600 shares during the period. California State Teachers Retirement System raised its position in shares of Evolent Health by 14.0% in the second quarter. California State Teachers Retirement System now owns 31,915 shares of the company’s stock worth $613,000 after buying an additional 3,912 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Evolent Health by 14.2% in the second quarter. Bank of New York Mellon Corp now owns 341,806 shares of the company’s stock worth $6,563,000 after buying an additional 42,414 shares during the period. 40.22% of the stock is currently owned by institutional investors and hedge funds.
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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