A number of other equities research analysts have also recently weighed in on the stock. FBR & Co boosted their price target on shares of Evolent Health from $24.00 to $26.00 and gave the company an outperform rating in a research report on Friday, August 5th. Leerink Swann reissued an outperform rating and issued a $20.00 price target on shares of Evolent Health in a research report on Sunday, July 17th. Canaccord Genuity set a $30.00 price target on shares of Evolent Health and gave the company a buy rating in a research report on Wednesday, September 28th. Finally, William Blair reaffirmed an outperform rating on shares of Evolent Health in a report on Friday, September 30th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $22.50.
Shares of Evolent Health (NYSE:EVH) opened at 24.84 on Tuesday. The stock’s 50 day moving average price is $23.77 and its 200-day moving average price is $18.27. Evolent Health has a 52-week low of $8.14 and a 52-week high of $26.84. The firm’s market capitalization is $1.50 billion.
Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Evolent Health had a negative net margin of 76.55% and a negative return on equity of 5.04%. The firm earned $56.50 million during the quarter, compared to analysts’ expectations of $51.96 million. During the same period in the previous year, the company earned ($0.95) earnings per share. Evolent Health’s quarterly revenue was up 443.3% compared to the same quarter last year. Equities research analysts anticipate that Evolent Health will post ($0.54) EPS for the current fiscal year.
In related news, major shareholder Board Co Advisory sold 317,712 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $22.50, for a total transaction of $7,148,520.00. Following the completion of the transaction, the insider now directly owns 4,128,167 shares of the company’s stock, valued at $92,883,757.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Seth Blackley sold 167,672 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $21.54, for a total transaction of $3,611,654.88. Following the transaction, the president now directly owns 869,848 shares of the company’s stock, valued at $18,736,525.92. The disclosure for this sale can be found here. Corporate insiders own 8.85% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC purchased a new position in Evolent Health during the second quarter valued at about $144,000. American International Group Inc. boosted its position in Evolent Health by 14.9% in the second quarter. American International Group Inc. now owns 8,761 shares of the company’s stock valued at $168,000 after buying an additional 1,134 shares in the last quarter. Nationwide Fund Advisors boosted its position in Evolent Health by 8.5% in the second quarter. Nationwide Fund Advisors now owns 10,109 shares of the company’s stock valued at $194,000 after buying an additional 789 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in Evolent Health during the second quarter valued at about $199,000. Finally, Alliancebernstein L.P. purchased a new position in Evolent Health during the second quarter valued at about $278,000. 40.22% of the stock is owned by hedge funds and other institutional investors.
About Evolent Health
Evolent Health, Inc supports integrated health systems in their migration towards value-based care and population health management. The Company’s services include providing customers with a population management platform, integrated data and analytics capabilities, pharmacy benefit management services and health plan administration services.
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