Evolent Health (NYSE:EVH) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Evolent Health (NYSE:EVH) from a hold rating to a buy rating in a research note released on Tuesday, Zacks.com reports. Zacks Investment Research currently has $7.75 target price on the technology company’s stock.

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. “

Separately, ValuEngine lowered Evolent Health from a hold rating to a sell rating in a research note on Wednesday, May 29th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $25.39.

Shares of EVH stock opened at $6.39 on Tuesday. Evolent Health has a 52-week low of $6.17 and a 52-week high of $29.05. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.96 and a quick ratio of 1.96. The company has a market cap of $520.88 million, a price-to-earnings ratio of -18.26 and a beta of 1.08. The business’s 50 day simple moving average is $7.41.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.38) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.02. Evolent Health had a negative return on equity of 4.80% and a negative net margin of 12.52%. The firm had revenue of $197.80 million during the quarter, compared to analyst estimates of $192.65 million. During the same period last year, the company earned $0.02 EPS. Evolent Health’s quarterly revenue was up 41.6% compared to the same quarter last year. On average, equities research analysts anticipate that Evolent Health will post -0.81 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Redmond Asset Management LLC increased its holdings in Evolent Health by 2.3% during the 1st quarter. Redmond Asset Management LLC now owns 70,171 shares of the technology company’s stock worth $883,000 after purchasing an additional 1,592 shares during the period. Legal & General Group Plc increased its holdings in shares of Evolent Health by 7.1% in the 4th quarter. Legal & General Group Plc now owns 27,695 shares of the technology company’s stock valued at $553,000 after acquiring an additional 1,838 shares during the period. FDx Advisors Inc. increased its holdings in shares of Evolent Health by 21.2% in the 2nd quarter. FDx Advisors Inc. now owns 21,635 shares of the technology company’s stock valued at $172,000 after acquiring an additional 3,785 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in shares of Evolent Health by 38.4% in the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 15,500 shares of the technology company’s stock valued at $123,000 after acquiring an additional 4,300 shares during the period. Finally, White Pine Investment CO increased its holdings in shares of Evolent Health by 2.9% in the 1st quarter. White Pine Investment CO now owns 162,300 shares of the technology company’s stock valued at $2,042,000 after acquiring an additional 4,625 shares during the period. Institutional investors own 97.93% of the company’s stock.

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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