Evolent Health (NYSE:EVH – Free Report) had its price target hoisted by TD Cowen from $5.00 to $6.00 in a report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.
Other research analysts have also issued reports about the stock. Truist Financial lowered their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Needham & Company LLC lifted their price target on Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Citigroup raised Evolent Health from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $6.75 to $6.00 in a research report on Monday, August 10th. Finally, Canaccord Genuity Group dropped their price objective on Evolent Health from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.96.
Check Out Our Latest Report on EVH
Evolent Health Price Performance
Evolent Health (NYSE:EVH – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $484.50 million for the quarter, compared to analyst estimates of $597.70 million. Evolent Health had a negative net margin of 24.08% and a negative return on equity of 4.27%. The company’s quarterly revenue was up 46.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.10) earnings per share. On average, research analysts expect that Evolent Health will post -0.2 EPS for the current fiscal year.
Institutional Trading of Evolent Health
A number of hedge funds have recently modified their holdings of the stock. Brighton Jones LLC bought a new stake in shares of Evolent Health during the 4th quarter worth about $3,927,000. Castle Hook Partners LP bought a new position in Evolent Health in the 4th quarter valued at about $3,751,000. Rock Point Advisors LLC raised its holdings in Evolent Health by 21.6% in the 4th quarter. Rock Point Advisors LLC now owns 1,190,156 shares of the technology company’s stock valued at $4,761,000 after acquiring an additional 211,707 shares during the period. First Trust Advisors LP acquired a new stake in Evolent Health during the first quarter worth approximately $488,000. Finally, Tejara Capital Ltd acquired a new stake in Evolent Health during the fourth quarter worth approximately $5,326,000.
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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