Evolent Health (EVH) Price Target Raised to $28.00

Evolent Health (NYSE:EVH) had its price target upped by Canaccord Genuity from $24.00 to $28.00 in a report published on Thursday, The Fly reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other analysts have also recently commented on EVH. KeyCorp upped their price objective on shares of Evolent Health from $19.00 to $24.00 and gave the company an overweight rating in a research report on Wednesday, May 30th. Piper Jaffray Companies started coverage on shares of Evolent Health in a research report on Monday, June 4th. They issued an overweight rating and a $30.00 price objective for the company. TheStreet upgraded shares of Evolent Health from a d+ rating to a c- rating in a research report on Monday, June 4th. SunTrust Banks upped their price objective on shares of Evolent Health and gave the company a buy rating in a research report on Thursday, June 7th. Finally, MED upped their price objective on shares of Evolent Health from $22.00 to $31.00 and gave the company an outperform rating in a research report on Monday, June 18th. One research analyst has rated the stock with a sell rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $28.67.

EVH stock opened at $27.65 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.59 and a current ratio of 2.59. The firm has a market capitalization of $2.06 billion, a PE ratio of -39.50 and a beta of 1.22. Evolent Health has a twelve month low of $10.30 and a twelve month high of $28.20.

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

In other Evolent Health news, COO Thomas Peterson III sold 70,000 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $27.50, for a total transaction of $1,925,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Seth Blackley sold 164,139 shares of the stock in a transaction dated Thursday, July 5th. The stock was sold at an average price of $22.30, for a total value of $3,660,299.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 546,315 shares of company stock valued at $12,823,614. 4.82% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Evolent Health by 16.1% during the 2nd quarter. BlackRock Inc. now owns 4,362,231 shares of the technology company’s stock worth $91,823,000 after purchasing an additional 605,714 shares in the last quarter. Riverbridge Partners LLC increased its holdings in Evolent Health by 25.6% during the 2nd quarter. Riverbridge Partners LLC now owns 3,536,179 shares of the technology company’s stock worth $74,437,000 after purchasing an additional 719,956 shares in the last quarter. Millennium Management LLC increased its holdings in Evolent Health by 12.9% during the 1st quarter. Millennium Management LLC now owns 3,179,977 shares of the technology company’s stock worth $45,315,000 after purchasing an additional 363,191 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Evolent Health by 45.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,818,720 shares of the technology company’s stock worth $59,335,000 after purchasing an additional 876,358 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in Evolent Health by 29.3% during the 2nd quarter. Eagle Asset Management Inc. now owns 2,574,180 shares of the technology company’s stock worth $54,186,000 after purchasing an additional 582,666 shares in the last quarter.

Evolent Health Company Profile

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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Analyst Recommendations for Evolent Health (NYSE:EVH)

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