Evolent Health (EVH) Reaches New 12-Month High Following Analyst Upgrade

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Evolent Health Inc (NYSE:EVH) shares reached a new 52-week high during trading on Monday after KeyCorp raised their price target on the stock from $26.00 to $28.00. KeyCorp currently has an overweight rating on the stock. Evolent Health traded as high as $24.30 and last traded at $23.95, with a volume of 52247 shares changing hands. The stock had previously closed at $23.95.

EVH has been the subject of a number of other research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $25.00 price target on shares of Evolent Health in a research report on Tuesday, August 7th. SunTrust Banks upped their price target on Evolent Health and gave the company a “buy” rating in a research report on Thursday, June 7th. Zacks Investment Research lowered Evolent Health from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. ValuEngine raised Evolent Health from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, MED upped their price target on Evolent Health from $22.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, June 18th. One investment analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company’s stock. Evolent Health currently has an average rating of “Buy” and an average target price of $26.92.

In other news, Director Cheryl Scott sold 1,600 shares of the stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $22.63, for a total value of $36,208.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Unitedhealth Group Inc sold 2,861,065 shares of the stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $19.23, for a total value of $55,018,279.95. The disclosure for this sale can be found here. Insiders sold a total of 3,302,054 shares of company stock valued at $64,764,651 in the last three months. Corporate insiders own 4.82% of the company’s stock.

Large investors have recently made changes to their positions in the company. NumerixS Investment Technologies Inc bought a new position in Evolent Health during the 2nd quarter valued at approximately $105,000. Jane Street Group LLC bought a new position in Evolent Health during the 4th quarter valued at approximately $144,000. Quantbot Technologies LP increased its position in Evolent Health by 111.4% during the 1st quarter. Quantbot Technologies LP now owns 10,815 shares of the technology company’s stock valued at $154,000 after buying an additional 5,698 shares in the last quarter. LPL Financial LLC bought a new position in Evolent Health during the 1st quarter valued at approximately $184,000. Finally, Xact Kapitalforvaltning AB bought a new position in Evolent Health during the 1st quarter valued at approximately $190,000.

The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 2.59. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -34.24 and a beta of 1.06.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Tuesday, August 7th. The technology company reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.01. Evolent Health had a negative return on equity of 1.82% and a negative net margin of 9.84%. The company had revenue of $144.51 million during the quarter, compared to analyst estimates of $141.90 million. equities analysts predict that Evolent Health Inc will post -0.34 earnings per share for the current year.

Evolent Health Company Profile (NYSE:EVH)

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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