Shares of Evolent Health, Inc (NYSE:EVH – Get Free Report) have been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $5.8846.
EVH has been the subject of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Evolent Health in a research note on Friday, March 27th. BTIG Research lowered their target price on Evolent Health from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. UBS Group lowered their target price on Evolent Health from $10.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Truist Financial reduced their price target on Evolent Health from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, TD Cowen restated a “buy” rating on shares of Evolent Health in a research report on Monday, March 2nd.
Get Our Latest Research Report on EVH
Evolent Health Stock Up 5.2%
Evolent Health (NYSE:EVH – Get Free Report) last released its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $496.25 million during the quarter, compared to analysts’ expectations of $534.00 million. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. On average, equities research analysts forecast that Evolent Health will post -0.23 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC lifted its holdings in Evolent Health by 4,000.0% during the third quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock worth $35,000 after acquiring an additional 4,000 shares in the last quarter. Strs Ohio bought a new position in Evolent Health during the first quarter worth about $47,000. Headlands Technologies LLC bought a new position in Evolent Health during the second quarter worth about $58,000. Pilgrim Partners Asia Pte Ltd bought a new position in Evolent Health during the third quarter worth about $51,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Evolent Health in the third quarter valued at about $56,000.
About Evolent Health
Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.
The company’s core offerings include care management solutions, population health analytics and clinical advisory services.
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