Evolent Health (EVH) Shares Down 6.3%

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Shares of Evolent Health Inc (NYSE:EVH) traded down 6.3% during mid-day trading on Thursday . The stock traded as low as $19.11 and last traded at $19.20. 1,297,264 shares traded hands during mid-day trading, an increase of 51% from the average session volume of 857,109 shares. The stock had previously closed at $20.48.

Several analysts recently issued reports on the company. Citigroup raised their price target on Evolent Health from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, October 4th. Zacks Investment Research raised Evolent Health from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Tuesday, December 4th. ValuEngine raised Evolent Health from a “buy” rating to a “strong-buy” rating in a report on Friday, September 14th. Canaccord Genuity raised their price target on Evolent Health from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, September 13th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $37.00 price target on shares of Evolent Health in a report on Wednesday, September 12th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $31.82.

The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.64 billion, a P/E ratio of -27.43 and a beta of 1.72.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.07. Evolent Health had a negative return on equity of 2.18% and a negative net margin of 9.05%. The company had revenue of $150.16 million for the quarter, compared to analysts’ expectations of $142.94 million. During the same period last year, the firm earned ($0.18) EPS. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, research analysts forecast that Evolent Health Inc will post -0.33 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc increased its position in shares of Evolent Health by 8.3% during the 3rd 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. Rehmann Capital Advisory Group increased its position in shares of Evolent Health by 2,002.7% during the 3rd quarter. Rehmann Capital Advisory Group now owns 14,677 shares of the technology company’s stock valued at $417,000 after purchasing an additional 13,979 shares during the period. Vanguard Group Inc. increased its position in shares of Evolent Health by 8.3% during the 3rd 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. Lombard Odier Asset Management USA Corp increased its position in shares of Evolent Health by 724.0% during the 3rd quarter. Lombard Odier Asset Management USA Corp now owns 206,000 shares of the technology company’s stock valued at $5,850,000 after purchasing an additional 181,000 shares during the period. Finally, Standard Life Aberdeen plc increased its position in shares of Evolent Health by 27.3% during the 3rd quarter. Standard Life Aberdeen plc now owns 1,871,543 shares of the technology company’s stock valued at $53,105,000 after purchasing an additional 401,893 shares during the period.

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About Evolent Health (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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