Evolent Health’s (EVH) “Outperform” Rating Reaffirmed at Leerink Swann

Leerink Swann reaffirmed their outperform rating on shares of Evolent Health, Inc (NYSE:EVH) in a research report report published on Monday. Leerink Swann currently has a $32.00 price objective on the technology company’s stock, up from their previous price objective of $30.00.

EVH has been the subject of several other research reports. Robert W. Baird reaffirmed an outperform rating and set a $35.00 price objective (up previously from $30.00) on shares of Evolent Health in a research report on Wednesday, June 14th. TheStreet raised shares of Evolent Health from a d rating to a c- rating in a report on Monday, May 22nd. Jefferies Group LLC reissued a buy rating and issued a $28.00 target price on shares of Evolent Health in a report on Thursday, April 13th. Oppenheimer Holdings, Inc. began coverage on shares of Evolent Health in a report on Monday, March 13th. They issued an outperform rating and a $28.00 target price for the company. Finally, Goldman Sachs Group, Inc. (The) raised shares of Evolent Health from a buy rating to a conviction-buy rating and set a $30.00 target price for the company in a report on Wednesday, March 8th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Evolent Health currently has a consensus rating of Buy and a consensus price target of $29.20.

Shares of Evolent Health (NYSE:EVH) traded up 1.231% during midday trading on Monday, hitting $26.725. 429,478 shares of the company were exchanged. Evolent Health has a one year low of $14.50 and a one year high of $27.50. The company’s market capitalization is $1.54 billion. The company has a 50-day moving average of $24.52 and a 200 day moving average of $20.57.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Tuesday, May 9th. The technology company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.11. Evolent Health had a negative return on equity of 7.06% and a negative net margin of 17.69%. The firm had revenue of $106.80 million for the quarter, compared to the consensus estimate of $104.38 million. During the same period in the prior year, the company earned ($0.16) EPS. The company’s revenue for the quarter was up 116.2% compared to the same quarter last year. On average, equities research analysts expect that Evolent Health will post ($0.41) earnings per share for the current fiscal year.

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In other news, President Seth Blackley sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $25.22, for a total value of $378,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Nicholas Mcgrane sold 10,495 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $26.95, for a total value of $282,840.25. The disclosure for this sale can be found here. Insiders sold 11,119,090 shares of company stock valued at $245,280,511 in the last three months. Company insiders own 8.79% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in Evolent Health by 22.4% in the first quarter. Goldman Sachs Group Inc. now owns 835,437 shares of the technology company’s stock valued at $18,630,000 after buying an additional 153,066 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in Evolent Health during the first quarter valued at about $126,000. Salem Investment Counselors Inc. increased its position in Evolent Health by 12.2% in the first quarter. Salem Investment Counselors Inc. now owns 31,730 shares of the technology company’s stock valued at $734,000 after buying an additional 3,450 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in Evolent Health during the first quarter valued at about $585,000. Finally, Jane Street Group LLC purchased a new position in Evolent Health during the first quarter valued at about $353,000. 73.46% of the stock is owned by institutional investors.

Evolent Health Company Profile

Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.

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