Leerink Swann Reiterates $35.00 Price Target for Evolent Health (EVH)

Leerink Swann set a $35.00 price target on Evolent Health (NYSE:EVH) in a research note issued to investors on Friday morning, Marketbeat.com reports. The firm currently has a buy rating on the technology company’s stock.

Other analysts have also recently issued research reports about the stock. SunTrust Banks raised their target price on shares of Evolent Health and gave the stock a buy rating in a research note on Thursday, June 7th. Canaccord Genuity raised their target price on shares of Evolent Health from $24.00 to $28.00 and gave the stock a buy rating in a research note on Thursday, September 13th. Cantor Fitzgerald reiterated a buy rating and issued a $37.00 price objective on shares of Evolent Health in a research note on Wednesday, September 12th. Zacks Investment Research upgraded shares of Evolent Health from a hold rating to a buy rating and set a $26.00 price objective for the company in a research note on Tuesday, July 10th. Finally, ValuEngine upgraded shares of Evolent Health from a hold rating to a buy rating in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $29.69.

EVH stock opened at $26.29 on Friday. Evolent Health has a one year low of $10.30 and a one year high of $29.05. The firm has a market capitalization of $2.23 billion, a PE ratio of -37.34 and a beta of 1.19. 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 (NYSE:EVH) last released its earnings results on Tuesday, August 7th. The technology company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $141.90 million. As a group, research analysts expect that Evolent Health will post -0.36 EPS for the current year.

In related news, CEO Frank J. Williams sold 3,878 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $24.00, for a total value of $93,072.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank J. Williams sold 41,015 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $24.02, for a total transaction of $985,180.30. The disclosure for this sale can be found here. Insiders sold 214,260 shares of company stock valued at $5,433,522 in the last quarter. Company 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. Dimensional Fund Advisors LP lifted its stake in shares of Evolent Health by 45.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,818,720 shares of the technology company’s stock valued at $59,335,000 after purchasing an additional 876,358 shares during the period. Baillie Gifford & Co. purchased a new position in Evolent Health during the 2nd quarter valued at about $18,276,000. Cortina Asset Management LLC increased its holdings in Evolent Health by 170.6% during the 2nd quarter. Cortina Asset Management LLC now owns 1,240,945 shares of the technology company’s stock valued at $26,122,000 after acquiring an additional 782,283 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 valued at $74,437,000 after acquiring an additional 719,956 shares in the last quarter. Finally, Carillon Tower Advisers Inc. increased its holdings in Evolent Health by 72.7% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,633,453 shares of the technology company’s stock valued at $34,384,000 after acquiring an additional 687,893 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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