Evolent Health (EVH) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Evolent Health (NYSE:EVH) from a sell rating to a hold rating in a report issued on Friday morning, Zacks.com reports.

According to Zacks, “Evolent Health, Inc. is involved in the healthcare delivery and payment markets. The company provides technology-enabled services platform for providers to transition their organization in value-based payment models. Evolent Health, Inc. is based in Arlington, Virginia. “

Other research analysts also recently issued research reports about the company. ValuEngine raised Evolent Health from a hold rating to a buy rating in a research note on Monday, February 4th. Cantor Fitzgerald reaffirmed a buy rating and set a $37.00 price target on shares of Evolent Health in a research note on Monday, December 31st. TheStreet downgraded shares of Evolent Health from a c- rating to a d+ rating in a research note on Friday, February 22nd. Oppenheimer cut their target price on shares of Evolent Health from $31.00 to $21.00 and set an outperform rating for the company in a research note on Wednesday, February 27th. Finally, Wells Fargo & Co cut their target price on shares of Evolent Health from $34.00 to $21.50 and set an outperform rating for the company in a research note on Wednesday, February 27th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $26.54.

NYSE:EVH opened at $13.23 on Friday. The firm has a market cap of $1.09 billion, a PE ratio of -37.80 and a beta of 1.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 1.81. Evolent Health has a 52-week low of $12.09 and a 52-week high of $29.05.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Tuesday, February 26th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $193.10 million for the quarter, compared to analyst estimates of $188.66 million. Evolent Health had a negative return on equity of 2.39% and a negative net margin of 8.40%. The company’s quarterly revenue was up 69.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.04) EPS. On average, analysts expect that Evolent Health will post -0.81 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Tygh Capital Management Inc. raised its stake in Evolent Health by 88.5% in the 4th quarter. Tygh Capital Management Inc. now owns 337,519 shares of the technology company’s stock valued at $6,734,000 after purchasing an additional 158,482 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Evolent Health by 33.5% in the 3rd quarter. Macquarie Group Ltd. now owns 304,338 shares of the technology company’s stock valued at $8,643,000 after buying an additional 76,345 shares during the period. Jane Street Group LLC purchased a new stake in Evolent Health in the 3rd quarter valued at about $205,000. Oppenheimer Asset Management Inc. grew its holdings in Evolent Health by 15.8% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 155,607 shares of the technology company’s stock valued at $3,104,000 after buying an additional 21,233 shares during the period. Finally, Rhumbline Advisers grew its holdings in Evolent Health by 61.9% in the 4th quarter. Rhumbline Advisers now owns 109,796 shares of the technology company’s stock valued at $2,190,000 after buying an additional 41,960 shares during the period.

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.

See Also: Systematic Risk

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