SunTrust Banks, Inc. Reaffirms “Buy” Rating for Evolent Health, Inc (NYSE:EVH)

SunTrust Banks, Inc. reissued their buy rating on shares of Evolent Health, Inc (NYSE:EVH) in a research report released on Friday, November 3rd. The firm currently has a $30.00 price objective on the technology company’s stock.

Several other research firms have also recently commented on EVH. BidaskClub cut Evolent Health from a hold rating to a sell rating in a report on Saturday, August 12th. Cowen and Company reaffirmed an outperform rating and set a $29.00 price objective (down from $33.00) on shares of Evolent Health in a report on Friday, October 6th. Jefferies Group LLC reaffirmed a buy rating and set a $28.00 price objective on shares of Evolent Health in a report on Wednesday, September 6th. ValuEngine downgraded Evolent Health from a hold rating to a sell rating in a research report on Friday, July 28th. Finally, J P Morgan Chase & Co reissued a buy rating on shares of Evolent Health in a research report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $28.70.

Evolent Health (NYSE:EVH) opened at $10.50 on Friday. The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 0.11. Evolent Health has a 1-year low of $10.30 and a 1-year high of $27.50.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. Evolent Health had a negative return on equity of 5.05% and a negative net margin of 15.86%. The firm had revenue of $107.90 million for the quarter, compared to the consensus estimate of $104.49 million. During the same quarter last year, the business posted ($0.26) EPS. The firm’s quarterly revenue was up 79.2% compared to the same quarter last year. equities analysts anticipate that Evolent Health will post -0.57 EPS for the current year.

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A number of institutional investors have recently made changes to their positions in EVH. FMR LLC increased its holdings in Evolent Health by 117.7% in the second quarter. FMR LLC now owns 9,864,775 shares of the technology company’s stock valued at $250,073,000 after buying an additional 5,333,252 shares during the last quarter. Riverbridge Partners LLC bought a new position in shares of Evolent Health during the second quarter valued at approximately $58,878,000. JPMorgan Chase & Co. grew its holdings in shares of Evolent Health by 37.3% during the third quarter. JPMorgan Chase & Co. now owns 7,465,019 shares of the technology company’s stock valued at $136,236,000 after purchasing an additional 2,026,893 shares during the last quarter. Vanguard Group Inc. grew its holdings in Evolent Health by 48.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,769,869 shares of the technology company’s stock worth $95,566,000 after buying an additional 1,237,941 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in Evolent Health in the 2nd quarter worth approximately $27,577,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Evolent Health (NYSE:EVH)

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