Trading Report: The Leerink Swann Reaffirms “Buy” Rating for Evolent Health Inc. (EVH)

The Leerink Swann Reaffirms “Buy” Rating for Evolent Health Inc. (EVH)

Evolent Health Inc. (NYSE:EVH)‘s stock had its “buy” rating reissued by stock analysts at Leerink Swann in a research report issued to clients and investors on Wednesday.

Other equities research analysts have also issued research reports about the company. Canaccord Genuity set a $30.00 target price on Evolent Health and gave the company a “buy” rating in a research note on Wednesday, September 28th. Jefferies Group initiated coverage on Evolent Health in a research note on Tuesday, July 26th. They issued a “buy” rating and a $28.00 target price for the company. William Blair reiterated an “outperform” rating on shares of Evolent Health in a research note on Friday, September 30th. Finally, FBR & Co increased their target price on Evolent Health from $16.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, July 13th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $22.50.

Evolent Health (NYSE:EVH) traded up 4.25% during midday trading on Wednesday, reaching $25.29. The company had a trading volume of 206,427 shares. Evolent Health has a 12 month low of $8.14 and a 12 month high of $26.84. The firm’s 50-day moving average price is $23.74 and its 200 day moving average price is $18.17. The firm’s market capitalization is $1.52 billion.

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Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, August 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Evolent Health had a negative return on equity of 5.04% and a negative net margin of 76.55%. The business earned $56.50 million during the quarter, compared to analyst estimates of $51.96 million. During the same quarter last year, the firm earned ($0.95) earnings per share. The company’s revenue for the quarter was up 443.3% compared to the same quarter last year. Equities analysts anticipate that Evolent Health will post ($0.54) earnings per share for the current fiscal year.

In other Evolent Health news, CEO Frank J. Williams sold 251,481 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Board Co Advisory sold 1,936,529 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $22.50, for a total value of $43,571,902.50. Following the transaction, the insider now directly owns 4,445,879 shares in the company, valued at approximately $100,032,277.50. The disclosure for this sale can be found here. 8.85% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pennant Capital Management LLC increased 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 worth $14,374,000 after buying an additional 478,318 shares in the last quarter. JPMorgan Chase & Co. increased 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 worth $13,628,000 after buying an additional 361,945 shares in the last quarter. Perceptive Advisors LLC increased its position in Evolent Health by 41.1% in the second quarter. Perceptive Advisors LLC now owns 873,064 shares of the company’s stock worth $16,763,000 after buying an additional 254,134 shares in the last quarter. Blair William & Co. IL increased its position in Evolent Health by 205.5% in the second quarter. Blair William & Co. IL now owns 341,570 shares of the company’s stock worth $6,558,000 after buying an additional 229,748 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased 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 worth $12,595,000 after buying an additional 207,755 shares in the last quarter. 40.22% of the stock is currently owned by institutional investors.

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