Shares of Evolent Health (NYSE:EVH) have been given a consensus rating of “Buy” by the sixteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and twelve have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $25.33.
A number of analysts have weighed in on the company. Jefferies Group set a $22.00 price target on Evolent Health and gave the stock a “buy” rating in a report on Tuesday, February 13th. Wells Fargo decreased their price target on Evolent Health from $27.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Canaccord Genuity decreased their price target on Evolent Health from $27.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Zacks Investment Research downgraded Evolent Health from a “hold” rating to a “sell” rating in a report on Thursday, March 8th. Finally, ValuEngine downgraded Evolent Health from a “sell” rating to a “strong sell” rating in a report on Monday, April 2nd.
Evolent Health stock traded up $0.70 during trading hours on Thursday, reaching $16.50. 598,806 shares of the company’s stock were exchanged, compared to its average volume of 860,808. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.12. Evolent Health has a twelve month low of $10.30 and a twelve month high of $27.50. The company has a market cap of $1,215.76, a P/E ratio of -23.57 and a beta of 1.07.
Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Tuesday, February 27th. The technology company reported ($0.10) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.10). Evolent Health had a negative return on equity of 3.51% and a negative net margin of 14.05%. The firm had revenue of $113.97 million during the quarter, compared to the consensus estimate of $111.09 million. equities research analysts forecast that Evolent Health will post -0.34 EPS for the current fiscal year.
In other news, Director Unitedhealth Group Inc sold 3,040,000 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $13.70, for a total value of $41,648,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.79% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Grandeur Peak Global Advisors LLC boosted its stake in Evolent Health by 52.9% during the 4th quarter. Grandeur Peak Global Advisors LLC now owns 30,000 shares of the technology company’s stock valued at $369,000 after purchasing an additional 10,375 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in Evolent Health during the 4th quarter valued at about $306,000. Macquarie Group Ltd. boosted its stake in Evolent Health by 44.7% during the 4th quarter. Macquarie Group Ltd. now owns 176,012 shares of the technology company’s stock valued at $2,165,000 after purchasing an additional 54,370 shares during the last quarter. Jane Street Group LLC acquired a new position in Evolent Health during the 4th quarter valued at about $144,000. Finally, Millennium Management LLC boosted its stake in Evolent Health by 61.6% during the 4th quarter. Millennium Management LLC now owns 2,816,786 shares of the technology company’s stock valued at $34,646,000 after purchasing an additional 1,073,282 shares during the last quarter.
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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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