Evolent Health, Inc (EVH) Shares Down 2.7%

Evolent Health, Inc (NYSE:EVH) fell 2.7% during mid-day trading on Tuesday . The stock traded as low as $10.30 and last traded at $11.45. 1,410,300 shares traded hands during trading, an increase of 16% from the average session volume of 1,215,002 shares. The stock had previously closed at $11.15.

Several brokerages recently issued reports on EVH. Goldman Sachs Group, Inc. (The) lowered shares of Evolent Health from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, November 7th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $30.00 price target on shares of Evolent Health in a report on Friday, November 3rd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $30.00 price target on shares of Evolent Health in a report on Thursday, November 2nd. Robert W. Baird reaffirmed a “buy” rating and set a $25.00 price target on shares of Evolent Health in a report on Wednesday, November 1st. Finally, Zacks Investment Research raised shares of Evolent Health from a “sell” rating to a “hold” rating in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $28.70.

The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.34 and a current ratio of 3.34.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, November 2nd. The technology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.04. Evolent Health had a negative net margin of 15.86% and a negative return on equity of 5.05%. The business had revenue of $107.90 million for the quarter, compared to the consensus estimate of $104.49 million. During the same period last year, the company earned ($0.26) EPS. The firm’s revenue was up 79.2% compared to the same quarter last year. research analysts forecast that Evolent Health, Inc will post -0.57 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in shares of Evolent Health by 117.7% in the 2nd quarter. FMR LLC now owns 9,864,775 shares of the technology company’s stock worth $250,073,000 after purchasing an additional 5,333,252 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Evolent Health by 37.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,465,019 shares of the technology company’s stock worth $136,236,000 after purchasing an additional 2,026,893 shares during the period. Vanguard Group Inc. lifted its position in shares of Evolent Health by 48.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,769,869 shares of the technology company’s stock worth $95,566,000 after purchasing an additional 1,237,941 shares during the period. Riverbridge Partners LLC acquired a new position in shares of Evolent Health in the 2nd quarter worth approximately $58,878,000. Finally, Blair William & Co. IL lifted its position in shares of Evolent Health by 31.4% in the 2nd quarter. Blair William & Co. IL now owns 2,185,695 shares of the technology company’s stock worth $55,407,000 after purchasing an additional 522,874 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

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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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