Shares of Evolent Health Inc (NYSE:EVH) have received an average rating of “Buy” from the seventeen ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $27.78.
Several analysts have recently commented on the stock. Cowen restated an “outperform” rating and issued a $29.00 target price (down previously from $33.00) on shares of Evolent Health in a research note on Friday, October 6th. Canaccord Genuity restated a “buy” rating and issued a $32.00 target price on shares of Evolent Health in a research note on Friday, October 6th. Zacks Investment Research upgraded shares of Evolent Health from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Robert W. Baird restated a “buy” rating and issued a $25.00 target price on shares of Evolent Health in a research note on Wednesday, November 1st. Finally, Citigroup assumed coverage on shares of Evolent Health in a research note on Thursday, January 4th. They issued a “buy” rating for the company.
Hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp acquired a new stake in shares of Evolent Health in the second quarter valued at about $425,000. Kornitzer Capital Management Inc. KS purchased a new position in Evolent Health during the 3rd quarter valued at about $14,258,000. Omni Partners LLP purchased a new position in Evolent Health during the 4th quarter valued at about $820,000. Alyeska Investment Group L.P. increased its holdings in Evolent Health by 393.1% during the 3rd quarter. Alyeska Investment Group L.P. now owns 250,000 shares of the technology company’s stock valued at $4,450,000 after acquiring an additional 199,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in Evolent Health during the 2nd quarter valued at about $2,912,000. Institutional investors own 95.57% of the company’s stock.
Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company 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 firm posted ($0.26) EPS. Evolent Health’s revenue for the quarter was up 79.2% on a year-over-year basis. sell-side analysts anticipate that Evolent Health will post -0.57 earnings per share for the current year.
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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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