Evolent Health’s (EVH) Overweight Rating Reaffirmed at Piper Jaffray Companies

Piper Jaffray Companies reiterated their overweight rating on shares of Evolent Health (NYSE:EVH) in a research note published on Wednesday morning, The Fly reports. Piper Jaffray Companies currently has a $34.00 price objective on the technology company’s stock.

EVH has been the topic of a number of other research reports. Cowen raised their price objective on shares of Evolent Health from $29.00 to $35.00 and gave the company an outperform rating in a research note on Thursday, September 13th. ValuEngine upgraded shares of Evolent Health from a hold rating to a buy rating in a research report on Thursday, August 9th. Cantor Fitzgerald restated a buy rating and issued a $37.00 price target on shares of Evolent Health in a research report on Wednesday, September 12th. Zacks Investment Research lowered shares of Evolent Health from a buy rating to a hold rating in a research report on Wednesday, July 25th. Finally, Jefferies Financial Group restated a buy rating and issued a $25.00 price target on shares of Evolent Health in a research report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $31.73.

Shares of NYSE EVH traded down $0.18 during mid-day trading on Wednesday, reaching $25.85. 59,805 shares of the company traded hands, compared to its average volume of 1,121,963. Evolent Health has a fifty-two week low of $10.30 and a fifty-two week high of $29.05. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 2.59. The firm has a market capitalization of $1.80 billion, a PE ratio of -36.86 and a beta of 1.50.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.07. Evolent Health had a negative net margin of 9.05% and a negative return on equity of 2.18%. The business had revenue of $150.16 million for the quarter, compared to analyst estimates of $142.94 million. During the same quarter last year, the business earned ($0.18) earnings per share. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. Sell-side analysts anticipate that Evolent Health will post -0.36 earnings per share for the current fiscal year.

In other Evolent Health news, General Counsel Jonathan Weinberg sold 15,000 shares of Evolent Health stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $27.12, for a total transaction of $406,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Frank J. Williams sold 41,015 shares of Evolent Health stock in a transaction that occurred on Wednesday, August 15th. The stock was 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. In the last 90 days, insiders sold 204,607 shares of company stock worth $5,240,751. 4.82% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of EVH. NumerixS Investment Technologies Inc purchased a new position in Evolent Health during the 2nd quarter worth approximately $105,000. LPL Financial LLC purchased a new position in Evolent Health during the 1st quarter worth approximately $184,000. Xact Kapitalforvaltning AB purchased a new position in Evolent Health during the 1st quarter worth approximately $190,000. Public Employees Retirement Association of Colorado grew its position in Evolent Health by 106.3% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 6,904 shares of the technology company’s stock worth $196,000 after purchasing an additional 3,557 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in Evolent Health during the 2nd quarter worth approximately $209,000.

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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