Evolent Health (EVH) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Evolent Health (NYSE:EVH) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. They currently have $27.00 price objective on the technology company’s 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. “

A number of other analysts have also issued reports on the company. Wells Fargo & Co boosted their price target on Evolent Health from $26.00 to $34.00 and gave the company an outperform rating in a report on Wednesday, November 7th. Piper Jaffray Companies reiterated an overweight rating and issued a $34.00 price target on shares of Evolent Health in a report on Wednesday, November 7th. ValuEngine lowered Evolent Health from a strong-buy rating to a buy rating in a report on Thursday, November 1st. Leerink Swann set a $35.00 price target on Evolent Health and gave the company a buy rating in a report on Friday, October 5th. Finally, Citigroup boosted their price target on Evolent Health from $25.00 to $32.00 and gave the company a buy rating in a report on Thursday, October 4th. Thirteen research analysts have rated the stock with a buy rating, Evolent Health presently has an average rating of Buy and an average price target of $31.82.

Shares of NYSE:EVH opened at $20.23 on Tuesday. Evolent Health has a 1 year low of $12.30 and a 1 year high of $29.05. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -28.90 and a beta of 1.54. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.12.

Evolent Health (NYSE:EVH) last announced its earnings results on Tuesday, November 6th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.07. Evolent Health had a negative return on equity of 2.18% and a negative net margin of 9.05%. The business had revenue of $150.16 million during the quarter, compared to analyst estimates of $142.94 million. During the same quarter in the previous year, the business earned ($0.18) earnings per share. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. Analysts anticipate that Evolent Health will post -0.33 EPS for the current fiscal year.

In related news, COO Thomas Peterson III sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $27.50, for a total value of $1,925,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jonathan Weinberg sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $27.12, for a total transaction of $406,800.00. The disclosure for this sale can be found here. Insiders own 4.82% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Capital Research Global Investors raised its stake in Evolent Health by 3.9% in the third quarter. Capital Research Global Investors now owns 7,642,195 shares of the technology company’s stock worth $217,038,000 after buying an additional 288,195 shares in the last quarter. Vanguard Group Inc. raised its stake in Evolent Health by 8.3% in the third quarter. Vanguard Group Inc. now owns 5,713,530 shares of the technology company’s stock worth $162,264,000 after buying an additional 439,172 shares in the last quarter. BlackRock Inc. raised its stake in Evolent Health by 4.8% in the third quarter. BlackRock Inc. now owns 4,571,771 shares of the technology company’s stock worth $129,838,000 after buying an additional 209,540 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Evolent Health by 13.1% in the third quarter. Dimensional Fund Advisors LP now owns 3,187,652 shares of the technology company’s stock worth $90,529,000 after buying an additional 368,932 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its stake in Evolent Health by 29.3% in the second quarter. Eagle Asset Management Inc. now owns 2,574,180 shares of the technology company’s stock worth $54,186,000 after buying an additional 582,666 shares in the last quarter.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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