Evolent Health (NYSE:EVH – Free Report) had its price target raised by JPMorgan Chase & Co. from $5.00 to $6.00 in a research note published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.
Other equities analysts have also issued research reports about the company. Citigroup raised Evolent Health from a “neutral” rating to a “buy” rating and dropped their target price for the company from $6.75 to $6.00 in a report on Monday, August 10th. Canaccord Genuity Group decreased their price target on Evolent Health from $7.00 to $6.00 and set a “buy” rating for the company in a report on Monday, August 10th. Truist Financial lowered their price objective on Evolent Health from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, August 12th. Needham & Company LLC raised their target price on Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.96.
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Evolent Health Stock Performance
Evolent Health (NYSE:EVH – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $0.02 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 business’s revenue for the quarter was up 46.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) EPS. Analysts forecast that Evolent Health will post -0.2 EPS for the current year.
Institutional Trading of Evolent Health
Institutional investors have recently modified their holdings of the business. Brighton Jones LLC acquired a new position in shares of Evolent Health during the 4th quarter worth $3,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Evolent Health by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock valued at $1,217,000 after acquiring an additional 3,572 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Evolent Health by 162.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after acquiring an additional 1,754,520 shares in the last quarter. Caxton Associates LLP purchased a new position in Evolent Health during the 1st quarter valued at about $252,000. Finally, Strs Ohio purchased a new position in Evolent Health during the 1st quarter valued at about $47,000.
Evolent Health Company Profile
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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