Equities research analysts at KeyCorp assumed coverage on shares of Evolent Health, Inc (NYSE:EVH) in a report released on Tuesday. The firm set an “overweight” rating and a $23.00 price target on the technology company’s stock. KeyCorp’s price target suggests a potential upside of 44.20% from the stock’s previous close.
A number of other research firms have also weighed in on EVH. BidaskClub lowered shares of Evolent Health from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Cowen and Company reissued an “outperform” rating and set a $35.00 target price on shares of Evolent Health in a report on Wednesday, June 28th. Jefferies Group LLC reissued a “buy” rating and set a $28.00 target price on shares of Evolent Health in a report on Wednesday, September 6th. ValuEngine lowered shares of Evolent Health from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, J P Morgan Chase & Co reissued a “buy” rating on shares of Evolent Health in a report on Friday, August 18th. Three research analysts have rated the stock with a sell rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Evolent Health has a consensus rating of “Buy” and a consensus target price of $29.33.
Evolent Health (NYSE:EVH) last posted its earnings results on Monday, August 7th. The technology company reported ($0.13) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.13). Evolent Health had a negative net margin of 17.57% and a negative return on equity of 6.44%. The firm had revenue of $107.30 million for the quarter, compared to analyst estimates of $104.45 million. During the same period in the previous year, the firm posted ($0.20) EPS. The company’s revenue for the quarter was up 89.9% compared to the same quarter last year.
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In related news, CEO Frank J. Williams sold 16,300 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $23.73, for a total transaction of $386,799.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Tpg Growth Ii Advisors, Inc. sold 4,279,325 shares of the stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $25.87, for a total transaction of $110,706,137.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,366,132 shares of company stock worth $112,891,200. Insiders own 8.79% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its stake in Evolent Health by 117.7% during the second quarter. FMR LLC now owns 9,864,775 shares of the technology company’s stock worth $250,073,000 after acquiring an additional 5,333,252 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Evolent Health by 7.5% during the second quarter. JPMorgan Chase & Co. now owns 5,438,126 shares of the technology company’s stock worth $137,857,000 after acquiring an additional 379,185 shares in the last quarter. Vanguard Group Inc. boosted its stake in Evolent Health by 48.9% during the second quarter. Vanguard Group Inc. now owns 3,769,869 shares of the technology company’s stock worth $95,566,000 after acquiring an additional 1,237,941 shares in the last quarter. Pennant Capital Management LLC boosted its stake in Evolent Health by 2.9% during the first quarter. Pennant Capital Management LLC now owns 2,843,021 shares of the technology company’s stock worth $63,399,000 after acquiring an additional 81,300 shares in the last quarter. Finally, Riverbridge Partners LLC bought a new position in Evolent Health during the second quarter worth $58,878,000. 82.51% of the stock is currently owned by institutional investors and hedge funds.
Evolent Health Company Profile
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.
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