Piper Jaffray Companies Reaffirms Overweight Rating for Evolent Health (NYSE:EVH)

Piper Jaffray Companies reaffirmed 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 $10.15 price target on the technology company’s stock.

Other analysts also recently issued research reports about the stock. Oppenheimer set a $15.00 price objective on shares of Evolent Health and gave the stock a buy rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an overweight rating and set a $10.00 price objective (down previously from $16.00) on shares of Evolent Health in a research report on Wednesday. ValuEngine raised shares of Evolent Health from a sell rating to a hold rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded shares of Evolent Health from a buy rating to a hold rating in a research report on Tuesday, August 6th. Finally, Cowen set a $18.00 price target on shares of Evolent Health and gave the company a buy rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $14.63.

Shares of EVH stock opened at $7.21 on Wednesday. Evolent Health has a 52 week low of $5.50 and a 52 week high of $26.96. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $8.40 and a 200-day moving average of $8.36.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.03. The company had revenue of $220.14 million during the quarter, compared to the consensus estimate of $217.90 million. Evolent Health had a negative net margin of 15.02% and a negative return on equity of 6.93%. The company’s quarterly revenue was up 46.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.04) EPS. Research analysts expect that Evolent Health will post -0.95 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of EVH. Carillon Tower Advisers Inc. grew its position in Evolent Health by 71.5% in the 3rd quarter. Carillon Tower Advisers Inc. now owns 2,801,065 shares of the technology company’s stock valued at $20,140,000 after purchasing an additional 1,167,612 shares during the period. Eagle Asset Management Inc. grew its position in Evolent Health by 62.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 3,002,480 shares of the technology company’s stock valued at $21,587,000 after purchasing an additional 1,149,789 shares during the period. Marshall Wace LLP grew its position in Evolent Health by 110.0% in the 2nd quarter. Marshall Wace LLP now owns 1,613,272 shares of the technology company’s stock valued at $12,825,000 after purchasing an additional 844,888 shares during the period. Vanguard Group Inc. grew its position in Evolent Health by 9.1% in the 2nd quarter. Vanguard Group Inc. now owns 6,570,526 shares of the technology company’s stock valued at $52,236,000 after purchasing an additional 548,064 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Evolent Health in the 3rd quarter valued at $3,764,000.

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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