Evolent Health (EVH) Upgraded by Zacks Investment Research to “Hold”

Evolent Health (NYSE:EVH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Evolent Health, Inc. is involved in the healthcare delivery and payment markets. The company provides technology-enabled services platform for providers to transition their organization in value-based payment models. Evolent Health, Inc. is based in Arlington, Virginia. “

Several other research firms have also commented on EVH. KeyCorp dropped their target price on Evolent Health from $32.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, March 4th. Oppenheimer dropped their target price on Evolent Health from $31.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, February 27th. Cantor Fitzgerald dropped their target price on Evolent Health from $37.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, February 27th. ValuEngine lowered Evolent Health from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Finally, Wells Fargo & Co dropped their target price on Evolent Health from $34.00 to $21.50 and set an “outperform” rating on the stock in a report on Wednesday, February 27th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Evolent Health has an average rating of “Buy” and an average price target of $26.54.



Shares of NYSE:EVH traded up $0.20 during trading on Wednesday, hitting $13.10. The stock had a trading volume of 1,469,786 shares, compared to its average volume of 1,450,223. Evolent Health has a 12-month low of $12.09 and a 12-month high of $29.05. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -37.43 and a beta of 1.25. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.19.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Tuesday, February 26th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Evolent Health had a negative return on equity of 2.39% and a negative net margin of 8.40%. The firm had revenue of $193.10 million during the quarter, compared to analysts’ expectations of $188.66 million. During the same quarter in the previous year, the business earned ($0.04) earnings per share. The company’s revenue for the quarter was up 69.8% compared to the same quarter last year. As a group, equities analysts anticipate that Evolent Health will post -0.78 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of EVH. FMR LLC grew its holdings in Evolent Health by 46.4% in the third quarter. FMR LLC now owns 2,401,826 shares of the technology company’s stock valued at $68,212,000 after purchasing an additional 760,844 shares during the period. Castleark Management LLC acquired a new stake in Evolent Health in the third quarter valued at approximately $13,614,000. American Century Companies Inc. acquired a new stake in Evolent Health in the fourth quarter valued at approximately $8,773,000. Vanguard Group Inc grew its holdings in Evolent Health by 8.3% in the third quarter. Vanguard Group Inc now owns 5,713,530 shares of the technology company’s stock valued at $162,264,000 after purchasing an additional 439,172 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Evolent Health by 8.3% in the third quarter. Vanguard Group Inc. now owns 5,713,530 shares of the technology company’s stock valued at $162,264,000 after purchasing an additional 439,172 shares during the period.

About Evolent Health

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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