Evolent Health’s (EVH) “Buy” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their buy rating on shares of Evolent Health (NYSE:EVH) in a report released on Wednesday morning. They currently have a $37.00 target price on the technology company’s stock.

“. We reiterate our Overweight rating on EVH shares and increase our price target to $37 from $28. This morning, EVH announced the acquisition of privately-held New Century Health (NCH). NCH manages approximately 462,000 Medicare Advantage lives for 12 long-term operating partners across multiple states. NCH’s customers include at-risk providers as well as national and regional health plans. We believe that the acquisition of NCH is very attractive financially and a very solid fit strategically. NCH basically doubles EVH’s adjusted EBITDA. Strategically, it looks like NCH operates a more mature” EVH business model. Overall, we believe the acquisition is a nice positive for EVH.”,” Cantor Fitzgerald’s analyst commented.

A number of other brokerages have also weighed in on EVH. KeyCorp boosted their price objective on shares of Evolent Health from $26.00 to $28.00 and gave the stock an overweight rating in a report on Monday, August 20th. MED boosted their price objective on shares of Evolent Health from $22.00 to $31.00 and gave the stock an outperform rating in a report on Monday, June 18th. Zacks Investment Research raised shares of Evolent Health from a hold rating to a buy rating and set a $26.00 target price on the stock in a research note on Tuesday, July 10th. SunTrust Banks lifted their target price on shares of Evolent Health and gave the stock a buy rating in a research note on Thursday, June 7th. Finally, TheStreet raised shares of Evolent Health from a d+ rating to a c- rating in a research note on Monday, June 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $28.67.

Shares of EVH opened at $27.65 on Wednesday. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.12. Evolent Health has a fifty-two week low of $10.30 and a fifty-two week high of $28.20.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Tuesday, August 7th. The technology company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.01. The firm had revenue of $144.51 million during the quarter, compared to analyst estimates of $141.90 million. Evolent Health had a negative net margin of 9.84% and a negative return on equity of 1.82%. equities analysts predict that Evolent Health will post -0.35 EPS for the current year.

In related news, President Seth Blackley sold 16,674 shares of Evolent Health stock in a transaction on Monday, June 18th. The shares were sold at an average price of $23.33, for a total value of $389,004.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Frank J. Williams sold 9,653 shares of Evolent Health stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $19.97, for a total transaction of $192,770.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 546,315 shares of company stock worth $12,823,614. 4.82% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of EVH. NumerixS Investment Technologies Inc purchased a new position in Evolent Health during the 2nd quarter valued at $105,000. Paloma Partners Management Co purchased a new position in Evolent Health during the 2nd quarter valued at $209,000. Brown Advisory Inc. purchased a new position in Evolent Health during the 2nd quarter valued at $210,000. Aperio Group LLC purchased a new position in Evolent Health during the 2nd quarter valued at $211,000. Finally, First Mercantile Trust Co. purchased a new position in Evolent Health during the 2nd quarter valued at $225,000.

About Evolent Health

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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