Evolent Health, Inc (EVH) Stock Rating Lowered by BidaskClub
BidaskClub downgraded shares of Evolent Health, Inc (NYSE:EVH) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.
A number of other brokerages have also commented on EVH. Cowen and Company reiterated an outperform rating and set a $35.00 price target on shares of Evolent Health in a report on Wednesday, June 28th. Robert W. Baird assumed coverage on Evolent Health in a research report on Thursday, June 1st. They issued an outperform rating and a $30.00 target price for the company. Zacks Investment Research downgraded Evolent Health from a buy rating to a hold rating in a research report on Thursday, May 4th. Leerink Swann reissued an outperform rating and issued a $32.00 target price (up from $30.00) on shares of Evolent Health in a research report on Monday, June 19th. Finally, Jefferies Group LLC reissued a buy rating and issued a $28.00 target price on shares of Evolent Health in a research report on Thursday, April 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Evolent Health presently has an average rating of Buy and a consensus price target of $29.73.
Evolent Health (NYSE EVH) traded down 1.21% on Tuesday, hitting $24.55. The company had a trading volume of 413,128 shares. Evolent Health has a one year low of $14.50 and a one year high of $27.50. The stock has a 50 day moving average of $25.83 and a 200-day moving average of $22.45. The stock’s market capitalization is $1.42 billion.
Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Tuesday, May 9th. The technology company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.11. The business had revenue of $106.80 million for the quarter, compared to the consensus estimate of $104.38 million. Evolent Health had a negative return on equity of 7.06% and a negative net margin of 17.69%. The business’s revenue was up 116.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) earnings per share. Equities analysts anticipate that Evolent Health will post ($0.41) EPS for the current year.
In other news, insider Nicholas Mcgrane sold 1,667 shares of Evolent Health stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $24.28, for a total value of $40,474.76. Following the completion of the transaction, the insider now directly owns 132,047 shares in the company, valued at $3,206,101.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Steve Wigginton sold 6,000 shares of Evolent Health stock in a transaction on Monday, May 1st. The shares were sold at an average price of $23.10, for a total value of $138,600.00. Following the completion of the transaction, the chief executive officer now owns 364,704 shares of the company’s stock, valued at $8,424,662.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,592,882 shares of company stock valued at $262,382,695. 8.79% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. US Bancorp DE boosted its position in shares of Evolent Health by 0.3% in the first quarter. US Bancorp DE now owns 5,654 shares of the technology company’s stock valued at $126,000 after buying an additional 19 shares during the period. Gradient Investments LLC boosted its position in shares of Evolent Health by 3.0% in the second quarter. Gradient Investments LLC now owns 16,719 shares of the technology company’s stock valued at $424,000 after buying an additional 489 shares during the period. American International Group Inc. boosted its position in shares of Evolent Health by 7.5% in the first quarter. American International Group Inc. now owns 9,403 shares of the technology company’s stock valued at $210,000 after buying an additional 653 shares during the period. White Pine Investment CO boosted its position in shares of Evolent Health by 0.8% in the first quarter. White Pine Investment CO now owns 97,470 shares of the technology company’s stock valued at $2,174,000 after buying an additional 750 shares during the period. Finally, Teachers Advisors LLC boosted its position in shares of Evolent Health by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 25,119 shares of the technology company’s stock valued at $372,000 after buying an additional 1,211 shares during the period. Institutional investors own 69.03% 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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