ValuEngine Upgrades Evolent Health (EVH) to Strong-Buy

ValuEngine upgraded shares of Evolent Health (NYSE:EVH) from a buy rating to a strong-buy rating in a research note issued to investors on Friday.

Other research analysts have also issued reports about the stock. Canaccord Genuity upped their target price on shares of Evolent Health from $24.00 to $28.00 and gave the stock a buy rating in a research report on Thursday. Cantor Fitzgerald restated a buy rating and set a $37.00 target price on shares of Evolent Health in a research report on Wednesday. Zacks Investment Research upgraded 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 report on Tuesday, July 10th. 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. Finally, SunTrust Banks upped their target price on shares of Evolent Health and gave the stock a buy rating in a research report on Thursday, June 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $28.67.

EVH traded up $0.05 on Friday, hitting $27.65. 746,670 shares of the company were exchanged, compared to its average volume of 662,711. The company has a current ratio of 2.59, a quick 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. The firm has a market capitalization of $2.06 billion, a P/E ratio of -39.50 and a beta of 1.22.

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

In other Evolent Health news, CEO Frank J. Williams sold 41,015 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $24.02, for a total value of $985,180.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Jonathan Weinberg sold 15,000 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $27.12, for a total transaction of $406,800.00. The disclosure for this sale can be found here. Insiders sold 546,315 shares of company stock worth $12,823,614 in the last ninety days. Insiders own 4.82% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in EVH. Rhumbline Advisers lifted its holdings in shares of Evolent Health by 8.2% in the first quarter. Rhumbline Advisers now owns 57,923 shares of the technology company’s stock valued at $825,000 after purchasing an additional 4,370 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Evolent Health by 4.8% in the first quarter. Swiss National Bank now owns 104,000 shares of the technology company’s stock valued at $1,482,000 after purchasing an additional 4,800 shares in the last quarter. State of Wisconsin Investment Board lifted its holdings in shares of Evolent Health by 25.0% in the first quarter. State of Wisconsin Investment Board now owns 500,000 shares of the technology company’s stock valued at $7,125,000 after purchasing an additional 100,000 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Evolent Health by 5.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 312,204 shares of the technology company’s stock valued at $4,449,000 after purchasing an additional 14,749 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Evolent Health by 26.7% in the first quarter. US Bancorp DE now owns 35,822 shares of the technology company’s stock valued at $511,000 after purchasing an additional 7,559 shares in the last quarter.

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.

Further Reading: How Do You Calculate Return on Equity (ROE)?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Evolent Health (NYSE:EVH)

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