Evolent Health (EVH) Rating Lowered to Sell at Zacks Investment Research

Evolent Health (NYSE:EVH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

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 equities research analysts have also recently commented on EVH. ValuEngine upgraded Evolent Health from a “hold” rating to a “buy” rating in a research report on Thursday. Jefferies Financial Group restated a “buy” rating and set a $25.00 target price on shares of Evolent Health in a research report on Tuesday, August 7th. MED raised their target price on Evolent Health from $22.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, June 18th. SunTrust Banks raised their target price on Evolent Health and gave the company a “buy” rating in a research report on Thursday, June 7th. Finally, TheStreet upgraded Evolent Health from a “d+” rating to a “c-” rating in a research report on Monday, June 4th. Two investment analysts have rated the stock with a sell rating and fifteen have issued a buy rating to the stock. Evolent Health has a consensus rating of “Buy” and a consensus price target of $26.75.

NYSE:EVH opened at $21.95 on Friday. Evolent Health has a 52 week low of $10.30 and a 52 week high of $24.00. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.12.

Evolent Health (NYSE:EVH) last posted its earnings results on Tuesday, August 7th. The technology company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.01. Evolent Health had a negative return on equity of 1.81% and a negative net margin of 9.84%. The firm had revenue of $144.51 million for the quarter, compared to analysts’ expectations of $141.90 million. equities research analysts forecast that Evolent Health will post -0.34 earnings per share for the current year.

In related news, General Counsel Jonathan Weinberg sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $20.02, for a total value of $300,300.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Seth Blackley sold 16,666 shares of the firm’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $19.39, for a total transaction of $323,153.74. The disclosure for this sale can be found here. Insiders sold a total of 3,277,705 shares of company stock worth $64,102,624 over the last ninety days. 4.82% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System lifted its stake in Evolent Health by 16.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 21,773 shares of the technology company’s stock valued at $458,000 after buying an additional 3,150 shares in the last quarter. Legal & General Group Plc lifted its stake in Evolent Health by 16.8% in the 1st quarter. Legal & General Group Plc now owns 26,437 shares of the technology company’s stock valued at $377,000 after buying an additional 3,811 shares in the last quarter. Rhumbline Advisers lifted its stake in Evolent Health by 8.2% in the 1st quarter. Rhumbline Advisers now owns 57,923 shares of the technology company’s stock valued at $825,000 after buying an additional 4,370 shares in the last quarter. Swiss National Bank lifted its stake in Evolent Health by 4.8% in the 1st quarter. Swiss National Bank now owns 104,000 shares of the technology company’s stock valued at $1,482,000 after buying an additional 4,800 shares in the last quarter. Finally, NumerixS Investment Technologies Inc purchased a new position in Evolent Health in the 2nd quarter valued at about $105,000.

Evolent Health Company Profile

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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