Cantor Fitzgerald restated their buy rating on shares of Evolent Health (NYSE:EVH) in a research note released on Sunday morning. The firm currently has a $30.00 price objective on the technology company’s stock.
“Health plan acquisitions. Over the past few months, EVH has announced two small health plan acquisitions that should help to grow its platform and operations revenue and add a new line of business. The acquisition of Premier in Dayton, OH, is somewhat more concerning for investors as the regulatory filings show that the plan is in a loss position. However, many provider-owned health plans typically show losses in regulatory filings. The company is expecting to receive better pricing from Premier and that it is not considering additional health plan acquisitions, at least in the near term. However, it will continue to use capital to align the company with customers. Note, our estimates do not yet reflect the health plan acquisitions.”,” the firm’s analyst commented.
Several other research analysts have also recently issued reports on the company. SunTrust Banks reiterated a buy rating and issued a $30.00 price objective on shares of Evolent Health in a research report on Friday, November 3rd. Jefferies Group reiterated a buy rating and issued a $28.00 price objective on shares of Evolent Health in a research report on Wednesday, September 6th. Goldman Sachs Group cut Evolent Health from a conviction-buy rating to a buy rating in a research report on Tuesday, November 7th. Zacks Investment Research upgraded Evolent Health from a sell rating to a hold rating in a research report on Monday, October 9th. Finally, Robert W. Baird reiterated a buy rating and issued a $25.00 price objective on shares of Evolent Health in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $28.00.
Shares of Evolent Health (EVH) opened at $12.85 on Friday. Evolent Health has a 52 week low of $10.30 and a 52 week high of $27.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.34 and a current ratio of 3.34.
Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. The firm had revenue of $107.90 million during the quarter, compared to analysts’ expectations of $104.49 million. Evolent Health had a negative return on equity of 5.05% and a negative net margin of 15.86%. Evolent Health’s revenue was up 79.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.26) earnings per share. sell-side analysts anticipate that Evolent Health will post -0.57 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the business. FMR LLC grew its holdings in Evolent Health by 117.7% in the second quarter. FMR LLC now owns 9,864,775 shares of the technology company’s stock valued at $250,073,000 after purchasing an additional 5,333,252 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Evolent Health by 37.3% in the third quarter. JPMorgan Chase & Co. now owns 7,465,019 shares of the technology company’s stock valued at $136,236,000 after purchasing an additional 2,026,893 shares during the last quarter. Vanguard Group Inc. grew its holdings in Evolent Health by 48.9% in the second quarter. Vanguard Group Inc. now owns 3,769,869 shares of the technology company’s stock valued at $95,566,000 after purchasing an additional 1,237,941 shares during the last quarter. Blair William & Co. IL grew its holdings in Evolent Health by 31.4% in the second quarter. Blair William & Co. IL now owns 2,185,695 shares of the technology company’s stock valued at $55,407,000 after purchasing an additional 522,874 shares during the last quarter. Finally, TimesSquare Capital Management LLC grew its holdings in Evolent Health by 5.7% in the third quarter. TimesSquare Capital Management LLC now owns 1,592,300 shares of the technology company’s stock valued at $28,343,000 after purchasing an additional 86,300 shares during the last quarter. 95.38% of the stock is currently owned by institutional investors.
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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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