Evolent Health (EVH) Trading 5.7% Higher
Evolent Health Inc (NYSE:EVH)’s share price traded up 5.7% during mid-day trading on Thursday . The stock traded as high as $14.38 and last traded at $13.95. 1,709,600 shares traded hands during mid-day trading, an increase of 49% from the average session volume of 1,143,857 shares. The stock had previously closed at $13.20.
A number of equities research analysts recently weighed in on EVH shares. Zacks Investment Research lowered Evolent Health from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Cowen restated an “outperform” rating and set a $29.00 price objective (down previously from $33.00) on shares of Evolent Health in a research report on Friday, October 6th. Canaccord Genuity restated a “buy” rating and set a $32.00 price objective on shares of Evolent Health in a research report on Friday, October 6th. Robert W. Baird restated an “outperform” rating and set a $25.00 price objective (down previously from $35.00) on shares of Evolent Health in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Finally, SunTrust Banks restated a “buy” rating and set a $30.00 price objective on shares of Evolent Health in a research report on Wednesday, September 20th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $28.00.
The firm has a market capitalization of $1,130.00 and a PE ratio of -12.81. 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, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. The firm had revenue of $107.90 million for the quarter, compared to the consensus estimate of $104.49 million. Evolent Health had a negative return on equity of 5.05% and a negative net margin of 15.86%. The business’s quarterly revenue was up 79.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.26) EPS. analysts forecast that Evolent Health Inc will post -0.55 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in Evolent Health by 117.7% during the 2nd quarter. FMR LLC now owns 9,864,775 shares of the technology company’s stock worth $250,073,000 after buying an additional 5,333,252 shares during the period. JPMorgan Chase & Co. lifted its holdings in Evolent Health by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,465,019 shares of the technology company’s stock worth $136,236,000 after buying an additional 2,026,893 shares during the period. Vanguard Group Inc. lifted its holdings in Evolent Health by 48.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,769,869 shares of the technology company’s stock worth $95,566,000 after buying an additional 1,237,941 shares during the period. TimesSquare Capital Management LLC lifted its holdings in Evolent Health by 5.7% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,592,300 shares of the technology company’s stock worth $28,343,000 after buying an additional 86,300 shares during the period. Finally, Eagle Asset Management Inc. lifted its holdings in Evolent Health by 40.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,529,943 shares of the technology company’s stock worth $28,609,000 after buying an additional 442,058 shares during the period. 95.38% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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