Evolent Health (EVH) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Evolent Health (NYSE:EVH) from a hold rating to a buy rating in a research note issued to investors on Monday. The brokerage currently has $18.00 price target on the technology company’s stock.

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. “

A number of other equities research analysts have also recently issued reports on EVH. ValuEngine cut shares of Evolent Health from a strong-buy rating to a buy rating in a report on Thursday, November 1st. Piper Jaffray Companies reaffirmed an overweight rating and issued a $34.00 target price on shares of Evolent Health in a report on Wednesday, November 7th. Wells Fargo & Co upped their target price on shares of Evolent Health from $26.00 to $34.00 and gave the company an outperform rating in a report on Wednesday, November 7th. Finally, Cantor Fitzgerald reaffirmed a buy rating and issued a $37.00 target price on shares of Evolent Health in a report on Monday, December 31st. Thirteen equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and a consensus target price of $31.00.

Shares of EVH stock opened at $14.54 on Monday. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.23 billion, a PE ratio of -20.77 and a beta of 1.38. Evolent Health has a 52-week low of $13.61 and a 52-week high of $29.05.

A number of institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans raised its holdings in Evolent Health by 0.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 198,933 shares of the technology company’s stock valued at $3,969,000 after acquiring an additional 751 shares during the period. Parkside Financial Bank & Trust raised its holdings in Evolent Health by 57.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,628 shares of the technology company’s stock valued at $72,000 after acquiring an additional 1,327 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Evolent Health by 7.6% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 24,749 shares of the technology company’s stock valued at $494,000 after acquiring an additional 1,758 shares during the period. Legal & General Group Plc raised its holdings in Evolent Health by 7.1% in the 4th quarter. Legal & General Group Plc now owns 27,695 shares of the technology company’s stock valued at $553,000 after acquiring an additional 1,838 shares during the period. Finally, US Bancorp DE raised its holdings in Evolent Health by 6.1% in the 3rd quarter. US Bancorp DE now owns 40,225 shares of the technology company’s stock valued at $1,142,000 after acquiring an additional 2,301 shares during the period.

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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