Piper Jaffray Companies Reaffirms “Overweight” Rating for Evolent Health (EVH)

Piper Jaffray Companies reaffirmed their overweight rating on shares of Evolent Health (NYSE:EVH) in a research report report published on Wednesday, The Fly reports. Piper Jaffray Companies currently has a $34.00 target price on the technology company’s stock.

EVH has been the topic of a number of other research reports. KeyCorp lifted their price target on Evolent Health from $26.00 to $28.00 and gave the company an overweight rating in a report on Monday, August 20th. Leerink Swann set a $35.00 price target on Evolent Health and gave the company a buy rating in a report on Friday, October 5th. Jefferies Financial Group reaffirmed a buy rating and set a $25.00 price target on shares of Evolent Health in a report on Tuesday, August 7th. Zacks Investment Research cut Evolent Health from a buy rating to a hold rating in a report on Wednesday, July 25th. Finally, Cowen lifted their price target on Evolent Health from $29.00 to $35.00 and gave the company an outperform rating in a report on Thursday, September 13th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. Evolent Health presently has an average rating of Buy and a consensus target price of $31.73.

NYSE EVH traded down $0.67 during trading hours on Wednesday, reaching $25.19. The company’s stock had a trading volume of 715,767 shares, compared to its average volume of 1,212,828. The stock has a market capitalization of $2.05 billion, a P/E ratio of -35.99 and a beta of 1.50. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.12. Evolent Health has a 52 week low of $10.30 and a 52 week high of $29.05.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.07. The company had revenue of $150.16 million for the quarter, compared to analysts’ expectations of $142.94 million. Evolent Health had a negative return on equity of 2.18% and a negative net margin of 9.05%. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.18) earnings per share. As a group, equities research analysts expect that Evolent Health will post -0.37 earnings per share for the current year.

In related news, insider Lydia Stone sold 6,805 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $25.00, for a total transaction of $170,125.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Thomas Peterson III sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $27.50, for a total transaction of $1,925,000.00. The disclosure for this sale can be found here. Insiders have sold 204,607 shares of company stock worth $5,240,751 in the last quarter. Company insiders own 4.82% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of EVH. NumerixS Investment Technologies Inc acquired a new position in shares of Evolent Health during the second quarter valued at approximately $105,000. DekaBank Deutsche Girozentrale grew its position in Evolent Health by 235.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 6,205 shares of the technology company’s stock worth $156,000 after buying an additional 4,355 shares during the last quarter. LPL Financial LLC acquired a new position in Evolent Health in the first quarter worth approximately $184,000. Xact Kapitalforvaltning AB acquired a new position in Evolent Health in the first quarter worth approximately $190,000. Finally, Public Employees Retirement Association of Colorado grew its position in Evolent Health by 106.3% in the third quarter. Public Employees Retirement Association of Colorado now owns 6,904 shares of the technology company’s stock worth $196,000 after buying an additional 3,557 shares during the last quarter.

Evolent Health Company Profile

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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