Evolent Health Inc (NYSE:EVH) gapped up prior to trading on Friday after ValuEngine upgraded the stock from a buy rating to a strong-buy rating. The stock had previously closed at $29.00, but opened at $28.00. Evolent Health shares last traded at $27.60, with a volume of 20898 shares.

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity raised their price target on Evolent Health from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald reissued a “buy” rating and issued a $37.00 price target on shares of Evolent Health in a report on Wednesday. Zacks Investment Research raised Evolent Health from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Tuesday, July 10th. Jefferies Financial Group reissued a “buy” rating and issued a $25.00 price target on shares of Evolent Health in a report on Tuesday, August 7th. Finally, SunTrust Banks raised their price target on Evolent Health and gave the stock a “buy” rating in a report on Thursday, June 7th. One analyst has 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 currently has an average rating of “Buy” and a consensus target price of $28.67.

In related news, General Counsel Jonathan Weinberg sold 15,000 shares of Evolent Health stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $27.12, for a total transaction of $406,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas Peterson III sold 70,000 shares of Evolent Health stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $27.50, for a total value of $1,925,000.00. The disclosure for this sale can be found here. Insiders have sold 546,315 shares of company stock valued at $12,823,614 in the last ninety days. Corporate insiders own 4.82% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of Evolent Health by 16.1% during the second quarter. BlackRock Inc. now owns 4,362,231 shares of the technology company’s stock worth $91,823,000 after purchasing an additional 605,714 shares during the period. Riverbridge Partners LLC lifted its holdings in shares of Evolent Health by 25.6% during the second quarter. Riverbridge Partners LLC now owns 3,536,179 shares of the technology company’s stock worth $74,437,000 after purchasing an additional 719,956 shares during the period. Millennium Management LLC lifted its holdings in shares of Evolent Health by 12.9% during the first quarter. Millennium Management LLC now owns 3,179,977 shares of the technology company’s stock worth $45,315,000 after purchasing an additional 363,191 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Evolent Health by 45.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,818,720 shares of the technology company’s stock worth $59,335,000 after purchasing an additional 876,358 shares during the period. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Evolent Health by 29.3% during the second quarter. Eagle Asset Management Inc. now owns 2,574,180 shares of the technology company’s stock worth $54,186,000 after purchasing an additional 582,666 shares during the period.

The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $2.06 billion, a P/E ratio of -39.50 and a beta of 1.22.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Tuesday, August 7th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.01. Evolent Health had a negative return on equity of 1.82% and a negative net margin of 9.84%. The company had revenue of $144.51 million during the quarter, compared to the consensus estimate of $141.90 million. research analysts predict that Evolent Health Inc will post -0.35 earnings per share for the current fiscal year.

Evolent Health Company Profile (NYSE:EVH)

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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