Evolent Health (NYSE:EVH) Stock Price Up 5.3%

Evolent Health Inc (NYSE:EVH)’s share price rose 5.3% during trading on Tuesday . The company traded as high as $7.88 and last traded at $7.81, approximately 1,095,100 shares were traded during trading. A decline of 23% from the average daily volume of 1,423,445 shares. The stock had previously closed at $7.42.

EVH has been the topic of a number of analyst reports. ValuEngine upgraded Evolent Health from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Piper Jaffray Companies set a $10.00 price objective on Evolent Health and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Oppenheimer set a $15.00 price objective on Evolent Health and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Cowen set a $18.00 target price on Evolent Health and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Zacks Investment Research downgraded Evolent Health from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.47.

The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.26. The stock has a market cap of $666.02 million, a PE ratio of -22.40 and a beta of 1.06. The company has a fifty day moving average of $7.04 and a 200-day moving average of $10.11.

Evolent Health (NYSE:EVH) last released its earnings results on Tuesday, August 6th. The technology company reported ($0.26) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.03. Evolent Health had a negative return on equity of 6.47% and a negative net margin of 14.67%. The firm had revenue of $192.00 million during the quarter, compared to analysts’ expectations of $192.51 million. During the same period in the previous year, the firm posted ($0.03) EPS. Evolent Health’s revenue for the quarter was up 33.1% on a year-over-year basis. As a group, research analysts anticipate that Evolent Health Inc will post -0.96 earnings per share for the current fiscal year.

In related news, Director Michael D’amato bought 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $7.03 per share, with a total value of $105,450.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Doug S. Aron bought 10,550 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average cost of $8.20 per share, with a total value of $86,510.00. Insiders have purchased a total of 32,750 shares of company stock valued at $242,648 over the last three months. 4.50% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in EVH. Aperio Group LLC acquired a new position in shares of Evolent Health during the 2nd quarter worth about $40,000. ETRADE Capital Management LLC acquired a new position in shares of Evolent Health during the 2nd quarter worth about $80,000. DekaBank Deutsche Girozentrale boosted its position in shares of Evolent Health by 94.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 12,061 shares of the technology company’s stock valued at $95,000 after purchasing an additional 5,856 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of Evolent Health by 38.4% in the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 15,500 shares of the technology company’s stock valued at $123,000 after purchasing an additional 4,300 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of Evolent Health in the 2nd quarter valued at about $125,000. 94.24% of the stock is owned by institutional investors and hedge funds.

About Evolent Health (NYSE:EVH)

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.

Further Reading: Neutral Rating

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