Evolent Health, Inc (EVH) Lowered to “Buy” at Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) cut shares of Evolent Health, Inc (NYSE:EVH) from a conviction-buy rating to a buy rating in a report released on Tuesday, The Fly reports.
A number of other research analysts have also recently commented on EVH. 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. SunTrust Banks, Inc. reaffirmed a buy rating and set a $30.00 price objective on shares of Evolent Health in a research report on Friday, November 3rd. Zacks Investment Research lowered Evolent Health from a hold rating to a sell rating in a research report on Thursday, August 10th. Cowen and Company reaffirmed an outperform rating and set a $33.00 price objective (down previously from $35.00) on shares of Evolent Health in a research report on Wednesday, August 9th. Finally, BidaskClub lowered Evolent Health from a buy rating to a hold rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $28.70.
Evolent Health (EVH) traded down $0.55 on Tuesday, reaching $11.15. The company had a trading volume of 3,966,800 shares, compared to its average volume of 1,214,106. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.89 and a current ratio of 1.89. Evolent Health has a 12-month low of $10.35 and a 12-month high of $27.50.
Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. Evolent Health had a negative return on equity of 5.27% and a negative net margin of 15.86%. The company had revenue of $107.90 million for the quarter, compared to analysts’ expectations of $104.49 million. During the same period in the prior year, the firm earned ($0.26) earnings per share. The firm’s revenue was up 79.2% compared to the same quarter last year. analysts anticipate that Evolent Health will post -0.57 EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in Evolent Health by 117.7% in the second quarter. FMR LLC now owns 9,864,775 shares of the technology company’s stock valued at $250,073,000 after acquiring an additional 5,333,252 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Evolent Health by 37.3% during the third 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. boosted its stake in shares of Evolent Health by 48.9% during the second 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. Riverbridge Partners LLC acquired a new stake in shares of Evolent Health during the second quarter worth about $58,878,000. Finally, Blair William & Co. IL boosted its stake in shares of Evolent Health by 31.4% during the second quarter. Blair William & Co. IL now owns 2,185,695 shares of the technology company’s stock worth $55,407,000 after buying an additional 522,874 shares during the period. Institutional investors own 91.58% of the company’s stock.
Evolent Health Company Profile
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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