Citigroup initiated coverage on shares of Evolent Health (NYSE:EVH) in a research note issued to investors on Thursday morning, The Fly reports. The brokerage issued a buy rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the stock. SunTrust Banks reaffirmed a buy rating and issued a $30.00 target price on shares of Evolent Health in a report on Wednesday, September 20th. Robert W. Baird reiterated a buy rating and issued a $25.00 price objective on shares of Evolent Health in a research report on Wednesday, November 1st. Zacks Investment Research lowered shares of Evolent Health from a hold rating to a sell rating in a research report on Monday, October 2nd. Cantor Fitzgerald reiterated a buy rating and issued a $30.00 price objective on shares of Evolent Health in a research report on Sunday, December 3rd. Finally, Canaccord Genuity reiterated a buy rating and issued a $32.00 price objective on shares of Evolent Health in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $28.00.

Shares of Evolent Health (EVH) traded down $0.25 during trading on Thursday, hitting $12.95. 637,673 shares of the stock were exchanged, compared to its average volume of 1,490,000. The firm has a market cap of $1,000.00 and a PE ratio of -11.36. Evolent Health has a fifty-two week low of $10.30 and a fifty-two week high of $27.50. The company has a quick ratio of 3.34, a current ratio of 3.34 and a debt-to-equity ratio of 0.11.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, November 2nd. The technology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. The business had revenue of $107.90 million for the quarter, compared to analysts’ expectations of $104.49 million. Evolent Health had a negative net margin of 15.86% and a negative return on equity of 5.05%. The company’s quarterly revenue was up 79.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.26) EPS. equities analysts expect that Evolent Health will post -0.55 EPS for the current year.

A number of large investors have recently bought and sold shares of the stock. Salem Investment Counselors Inc. boosted its position in shares of Evolent Health by 280.3% during the 3rd quarter. Salem Investment Counselors Inc. now owns 158,705 shares of the technology company’s stock worth $2,925,000 after purchasing an additional 116,975 shares in the last quarter. Granahan Investment Management Inc. MA boosted its position in shares of Evolent Health by 32.6% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 426,764 shares of the technology company’s stock worth $7,596,000 after purchasing an additional 104,876 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Evolent Health during the 3rd quarter worth $366,000. Grandeur Peak Global Advisors LLC boosted its position in shares of Evolent Health by 58.6% during the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 19,625 shares of the technology company’s stock worth $349,000 after purchasing an additional 7,250 shares in the last quarter. Finally, Sectoral Asset Management Inc boosted its position in shares of Evolent Health by 22.5% during the 3rd quarter. Sectoral Asset Management Inc now owns 652,680 shares of the technology company’s stock worth $11,618,000 after purchasing an additional 119,868 shares in the last quarter. Hedge funds and other institutional investors own 95.38% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Citigroup Begins Coverage on Evolent Health (EVH)” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another domain, it was copied illegally and republished in violation of United States and international copyright laws. The legal version of this story can be viewed at https://www.watchlistnews.com/citigroup-begins-coverage-on-evolent-health-evh/1798133.html.

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.

The Fly

Analyst Recommendations for Evolent Health (NYSE:EVH)

Receive News & Ratings for Evolent Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evolent Health and related companies with Analyst Ratings Network's FREE daily email newsletter.