Evolent Health (EVH) Shares Down 6.3%

Shares of Evolent Health Inc (NYSE:EVH) traded down 6.3% during trading on Thursday . The stock traded as low as $19.11 and last traded at $19.20. 1,297,264 shares traded hands during mid-day trading, an increase of 51% from the average session volume of 857,109 shares. The stock had previously closed at $20.48.

Several analysts have recently commented on the company. Zacks Investment Research raised Evolent Health from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Tuesday, December 4th. Cantor Fitzgerald reissued a “buy” rating and set a $37.00 price objective on shares of Evolent Health in a research report on Monday, December 31st. Canaccord Genuity lifted their price objective on Evolent Health from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, September 13th. Cowen lifted their price objective on Evolent Health from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, September 13th. Finally, Leerink Swann set a $35.00 price objective on Evolent Health and gave the company a “buy” rating in a research report on Friday, October 5th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Evolent Health currently has a consensus rating of “Buy” and an average price target of $31.82.

The stock has a market cap of $1.64 billion, a PE ratio of -27.43 and a beta of 1.72. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.12.

Evolent Health (NYSE:EVH) last posted its earnings results on Tuesday, November 6th. The technology company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.07. Evolent Health had a negative return on equity of 2.18% and a negative net margin of 9.05%. The company had revenue of $150.16 million for the quarter, compared to analyst estimates of $142.94 million. During the same period last year, the company earned ($0.18) earnings per share. The business’s revenue was up 38.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Evolent Health Inc will post -0.33 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors raised its holdings in Evolent Health by 3.9% during the third quarter. Capital Research Global Investors now owns 7,642,195 shares of the technology company’s stock valued at $217,038,000 after buying an additional 288,195 shares in the last quarter. Vanguard Group Inc. raised its holdings in Evolent Health by 8.3% during the third quarter. Vanguard Group Inc. now owns 5,713,530 shares of the technology company’s stock valued at $162,264,000 after buying an additional 439,172 shares in the last quarter. Vanguard Group Inc raised its holdings in Evolent Health by 8.3% during the third quarter. Vanguard Group Inc now owns 5,713,530 shares of the technology company’s stock valued at $162,264,000 after buying an additional 439,172 shares in the last quarter. BlackRock Inc. raised its holdings in Evolent Health by 4.8% during the third quarter. BlackRock Inc. now owns 4,571,771 shares of the technology company’s stock valued at $129,838,000 after buying an additional 209,540 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Evolent Health by 13.1% during the third quarter. Dimensional Fund Advisors LP now owns 3,187,652 shares of the technology company’s stock valued at $90,529,000 after buying an additional 368,932 shares in the last quarter.

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Evolent Health Company Profile (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.

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