The Evolent Health Inc. (EVH) Upgraded to Buy at Zacks Investment Research

The Evolent Health Inc. (EVH) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Evolent Health Inc. (NYSE:EVH) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $28.00 price objective on the stock.

According to Zacks, “Evolent Health, Inc. is involved in the healthcare delivery and payment markets. The company provides technology-enabled services platform for providers to transition their organization in value-based payment models. Evolent Health, Inc. is based in Arlington, Virginia. “

Other research analysts also recently issued research reports about the stock. Canaccord Genuity reiterated a buy rating and issued a $30.00 target price on shares of Evolent Health in a research note on Sunday, August 7th. FBR & Co increased their price objective on shares of Evolent Health from $16.00 to $24.00 and gave the company an outperform rating in a research report on Wednesday, July 13th. Leerink Swann restated a buy rating on shares of Evolent Health in a research report on Wednesday, October 5th. Jefferies Group began coverage on shares of Evolent Health in a research report on Tuesday, July 26th. They set a buy rating and a $28.00 price objective on the stock. Finally, William Blair restated an outperform rating on shares of Evolent Health in a research report on Friday, September 30th. Seven analysts have rated the stock with a buy rating, Evolent Health has an average rating of Buy and a consensus price target of $25.17.

Shares of Evolent Health (NYSE:EVH) opened at 25.36 on Tuesday. Evolent Health has a 52 week low of $8.14 and a 52 week high of $26.84. The company’s market capitalization is $1.53 billion. The company has a 50 day moving average price of $23.86 and a 200 day moving average price of $18.64.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, August 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.04. The firm had revenue of $56.50 million for the quarter, compared to the consensus estimate of $51.96 million. Evolent Health had a negative net margin of 76.55% and a negative return on equity of 5.04%. The business’s revenue was up 443.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.95) earnings per share. On average, equities research analysts expect that Evolent Health will post ($0.54) earnings per share for the current year.

In other Evolent Health news, President Seth Blackley sold 167,672 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $21.54, for a total transaction of $3,611,654.88. Following the completion of the transaction, the president now owns 869,848 shares in the company, valued at $18,736,525.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank J. Williams sold 251,481 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $21.54, for a total transaction of $5,416,900.74. Following the transaction, the chief executive officer now owns 1,304,799 shares of the company’s stock, valued at approximately $28,105,370.46. The disclosure for this sale can be found here. Company insiders own 8.85% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in EVH. JPMorgan Chase & Co. raised its position in Evolent Health by 39.0% in the first quarter. JPMorgan Chase & Co. now owns 1,290,465 shares of the company’s stock valued at $13,628,000 after buying an additional 361,945 shares during the period. TimesSquare Capital Management LLC raised its position in Evolent Health by 21.1% in the first quarter. TimesSquare Capital Management LLC now owns 1,192,755 shares of the company’s stock valued at $12,595,000 after buying an additional 207,755 shares during the period. State Street Corp raised its position in Evolent Health by 6.0% in the first quarter. State Street Corp now owns 177,249 shares of the company’s stock valued at $1,872,000 after buying an additional 10,020 shares during the period. Geode Capital Management LLC raised its position in Evolent Health by 1.3% in the first quarter. Geode Capital Management LLC now owns 75,085 shares of the company’s stock valued at $792,000 after buying an additional 948 shares during the period. Finally, Pennant Capital Management LLC raised its position in Evolent Health by 54.2% in the first quarter. Pennant Capital Management LLC now owns 1,361,147 shares of the company’s stock valued at $14,374,000 after buying an additional 478,318 shares during the period. Institutional investors and hedge funds own 39.23% of the company’s stock.

About Evolent Health

Evolent Health, Inc supports integrated health systems in their migration towards value-based care and population health management. The Company’s services include providing customers with a population management platform, integrated data and analytics capabilities, pharmacy benefit management services and health plan administration services.

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