Evolent Health Inc. (EVH) Earns Hold Rating from Wells Fargo & Co.
Evolent Health Inc. (NYSE:EVH)‘s stock had its “hold” rating restated by investment analysts at Wells Fargo & Co. in a report released on Thursday.
A number of other brokerages also recently issued reports on EVH. Canaccord Genuity set a $31.00 price target on Evolent Health and gave the company a “buy” rating in a report on Tuesday, November 22nd. Zacks Investment Research downgraded Evolent Health from a “buy” rating to a “hold” rating in a report on Monday, November 14th. JPMorgan Chase & Co. initiated coverage on Evolent Health in a report on Friday, October 28th. They issued an “overweight” rating and a $30.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of Evolent Health in a report on Friday, September 30th. Finally, Leerink Swann reaffirmed a “buy” rating on shares of Evolent Health in a report on Wednesday, October 5th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $27.83.
Shares of Evolent Health (NYSE:EVH) opened at 18.80 on Thursday. The firm’s market cap is $1.28 billion. Evolent Health has a 52 week low of $8.14 and a 52 week high of $26.84. The stock’s 50 day moving average is $21.03 and its 200-day moving average is $20.98.
Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Wednesday, November 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.02. The firm earned $60.20 million during the quarter, compared to the consensus estimate of $58.35 million. Evolent Health had a negative return on equity of 5.54% and a negative net margin of 69.04%. The firm’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.16) earnings per share. On average, equities analysts predict that Evolent Health will post ($0.57) EPS for the current fiscal year.
In other news, President Seth Blackley sold 167,672 shares of the company’s 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 $3,611,654.88. Following the completion of the sale, 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, Director Michael D’amato purchased 10,000 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were bought at an average price of $17.18 per share, with a total value of $171,800.00. Following the purchase, the director now directly owns 18,183 shares of the company’s stock, valued at $312,383.94. The disclosure for this purchase can be found here. 8.85% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Evolent Health by 23.8% in the third quarter. BlackRock Inc. now owns 4,506 shares of the company’s stock valued at $111,000 after buying an additional 867 shares during the period. Barclays PLC bought a new stake in Evolent Health during the second quarter valued at approximately $144,000. American International Group Inc. boosted its stake in Evolent Health by 14.9% in the second quarter. American International Group Inc. now owns 8,761 shares of the company’s stock valued at $168,000 after buying an additional 1,134 shares during the period. BlackRock Group LTD boosted its stake in Evolent Health by 201.3% in the third quarter. BlackRock Group LTD now owns 7,270 shares of the company’s stock valued at $178,000 after buying an additional 4,857 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in Evolent Health by 8.5% in the second quarter. Nationwide Fund Advisors now owns 10,109 shares of the company’s stock valued at $194,000 after buying an additional 789 shares during the period. Institutional investors and hedge funds own 51.70% of the company’s stock.
Evolent Health Company Profile
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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