Evolent Health (EVH) Receives Average Rating of “Buy” from Brokerages

Shares of Evolent Health (NYSE:EVH) have been assigned a consensus rating of “Buy” from the sixteen research firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $25.33.

EVH has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of Evolent Health in a research note on Thursday, January 4th. They set a “buy” rating on the stock. Jefferies Group set a $22.00 price target on shares of Evolent Health and gave the company a “buy” rating in a research note on Tuesday, February 13th. Wells Fargo dropped their price target on shares of Evolent Health from $27.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Canaccord Genuity dropped their price target on shares of Evolent Health from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Finally, Zacks Investment Research cut shares of Evolent Health from a “hold” rating to a “sell” rating in a research note on Thursday, March 8th.

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Shares of EVH stock traded down $0.15 during trading on Thursday, reaching $16.30. 533,090 shares of the company’s stock traded hands, compared to its average volume of 850,908. The stock has a market capitalization of $1,277.71, a P/E ratio of -23.29 and a beta of 1.07. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.12. Evolent Health has a 1 year low of $10.30 and a 1 year high of $27.50.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Tuesday, February 27th. The technology company reported ($0.10) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.10). The company had revenue of $113.97 million for the quarter, compared to analysts’ expectations of $111.09 million. Evolent Health had a negative net margin of 14.05% and a negative return on equity of 3.51%. equities analysts predict that Evolent Health will post -0.34 EPS for the current year.

In other Evolent Health news, Director Unitedhealth Group Inc sold 3,040,000 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $13.70, for a total value of $41,648,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.79% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Omni Partners LLP bought a new position in shares of Evolent Health in the 4th quarter worth $820,000. Paloma Partners Management Co increased its holdings in shares of Evolent Health by 92.8% in the 4th quarter. Paloma Partners Management Co now owns 32,768 shares of the technology company’s stock worth $403,000 after buying an additional 15,769 shares during the last quarter. Granite Point Capital Management L.P. increased its holdings in shares of Evolent Health by 100.0% in the 4th quarter. Granite Point Capital Management L.P. now owns 100,000 shares of the technology company’s stock worth $1,230,000 after buying an additional 50,000 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Evolent Health by 393.1% in the 3rd quarter. Alyeska Investment Group L.P. now owns 250,000 shares of the technology company’s stock worth $4,450,000 after buying an additional 199,300 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Evolent Health by 30.5% in the 4th quarter. US Bancorp DE now owns 28,263 shares of the technology company’s stock worth $348,000 after buying an additional 6,609 shares during the last quarter.

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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.

Analyst Recommendations for Evolent Health (NYSE:EVH)

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