Evolent Health, Inc (EVH) Trading Up -0.4%
Shares of Evolent Health, Inc (NYSE:EVH) were up 0.4% during mid-day trading on Tuesday . The company traded as high as $18.80 and last traded at $18.63. Approximately 1,671,080 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 1,693,200 shares. The stock had previously closed at $18.70.
A number of analysts have commented on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Evolent Health in a research report on Wednesday, September 6th. Leerink Swann reiterated an “outperform” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Evolent Health in a research report on Monday, June 19th. BidaskClub downgraded Evolent Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $30.00 price objective on shares of Evolent Health in a research report on Wednesday, September 20th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $35.00 price objective on shares of Evolent Health in a research report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $28.73.
The company has a 50-day moving average of $17.34 and a 200-day moving average of $17.34. The company’s market capitalization is $1.22 billion.
Evolent Health (NYSE:EVH) last posted its earnings results on Monday, August 7th. The technology company reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13). Evolent Health had a negative return on equity of 6.44% and a negative net margin of 17.57%. The company had revenue of $107.30 million for the quarter, compared to the consensus estimate of $104.45 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. The firm’s revenue for the quarter was up 89.9% on a year-over-year basis. Analysts forecast that Evolent Health, Inc will post ($0.41) earnings per share for the current fiscal year.
In related news, CEO Frank J. Williams sold 16,300 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $23.73, for a total transaction of $386,799.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Steve Wigginton sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $24.64, for a total value of $147,840.00. The disclosure for this sale can be found here. Insiders have sold 64,507 shares of company stock worth $1,631,054 in the last three months. 8.79% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Evolent Health during the second quarter worth approximately $635,000. Castleark Management LLC acquired a new stake in Evolent Health during the second quarter worth approximately $14,299,000. California State Teachers Retirement System grew its position in Evolent Health by 116.8% during the second quarter. California State Teachers Retirement System now owns 68,315 shares of the technology company’s stock worth $1,732,000 after buying an additional 36,800 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Evolent Health by 123.6% during the second quarter. The Manufacturers Life Insurance Company now owns 30,005 shares of the technology company’s stock worth $760,000 after buying an additional 16,587 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Evolent Health by 492.2% during the second quarter. Cubist Systematic Strategies LLC now owns 82,874 shares of the technology company’s stock worth $2,101,000 after buying an additional 68,880 shares in the last quarter. 82.51% of the stock is currently owned by institutional investors and hedge funds.
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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