KeyCorp assumed coverage on shares of Evolent Health, Inc (NYSE:EVH) in a research note issued to investors on Tuesday morning, MarketBeat reports. The firm issued an overweight rating and a $23.00 target price on the technology company’s stock.

Other equities research analysts have also issued research reports about the company. BidaskClub lowered Evolent Health from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Robert W. Baird set a $35.00 price target on Evolent Health and gave the stock a buy rating in a research note on Tuesday, August 8th. J P Morgan Chase & Co reaffirmed a buy rating on shares of Evolent Health in a research note on Friday, August 18th. Leerink Swann set a $32.00 price target on Evolent Health and gave the stock a buy rating in a research note on Friday, August 18th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $28.00 price target on shares of Evolent Health in a research note on Wednesday, September 6th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $29.33.

Evolent Health (NYSE EVH) opened at 16.75 on Tuesday. The company’s market capitalization is $1.10 billion. Evolent Health has a 52-week low of $14.50 and a 52-week high of $25.66. The firm has a 50-day moving average price of $17.19 and a 200 day moving average price of $17.19.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Monday, August 7th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.13). Evolent Health had a negative return on equity of 6.44% and a negative net margin of 17.57%. The firm had revenue of $107.30 million during the quarter, compared to analyst estimates of $104.45 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The company’s revenue was up 89.9% compared to the same quarter last year. On average, analysts predict that Evolent Health will post ($0.41) earnings per share for the current fiscal year.

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In other news, CEO Frank J. Williams sold 16,300 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $23.73, for a total value of $386,799.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tpg Growth Ii Advisors, Inc. sold 4,279,325 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $25.87, for a total value of $110,706,137.75. The disclosure for this sale can be found here. In the last three months, insiders sold 4,366,132 shares of company stock valued at $112,891,200. 8.79% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE lifted its stake in shares of Evolent Health by 0.3% in the 1st quarter. US Bancorp DE now owns 5,654 shares of the technology company’s stock valued at $126,000 after acquiring an additional 19 shares during the last quarter. Gradient Investments LLC lifted its stake in shares of Evolent Health by 3.0% in the 2nd quarter. Gradient Investments LLC now owns 16,719 shares of the technology company’s stock valued at $424,000 after acquiring an additional 489 shares during the last quarter. American International Group Inc. lifted its stake in shares of Evolent Health by 7.5% in the 1st quarter. American International Group Inc. now owns 9,403 shares of the technology company’s stock valued at $210,000 after acquiring an additional 653 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of Evolent Health by 5.1% in the 4th quarter. Teachers Advisors LLC now owns 25,119 shares of the technology company’s stock valued at $372,000 after acquiring an additional 1,211 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its stake in shares of Evolent Health by 12.2% in the 1st quarter. Salem Investment Counselors Inc. now owns 31,730 shares of the technology company’s stock valued at $734,000 after acquiring an additional 3,450 shares during the last quarter. 82.51% of the stock is owned by institutional investors.

About Evolent Health

Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.

Analyst Recommendations for Evolent Health (NYSE:EVH)

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