Evolent Health (EVH) Trading Down 4.5%

Evolent Health Inc (NYSE:EVH)’s share price dropped 4.5% on Friday . The stock traded as low as $9.20 and last traded at $8.99. Approximately 54,040 shares were traded during trading, a decline of 96% from the average daily volume of 1,271,839 shares. The stock had previously closed at $9.41.

EVH has been the topic of several recent analyst reports. Zacks Investment Research upgraded Evolent Health from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. TheStreet cut Evolent Health from a “c-” rating to a “d+” rating in a research note on Friday, February 22nd. Wells Fargo & Co dropped their price objective on Evolent Health from $34.00 to $21.50 and set an “outperform” rating on the stock in a research note on Wednesday, February 27th. Finally, ValuEngine cut Evolent Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $26.54.

The company has a market capitalization of $846.60 million, a P/E ratio of -25.66 and a beta of 1.41. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.96 and a quick ratio of 1.96.

Evolent Health (NYSE:EVH) last released its earnings results on Tuesday, May 7th. The technology company reported ($0.38) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.02. The company had revenue of $197.80 million for the quarter, compared to analysts’ expectations of $192.65 million. Evolent Health had a negative return on equity of 4.80% and a negative net margin of 12.52%. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.02 EPS. On average, equities analysts expect that Evolent Health Inc will post -0.8 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its stake in shares of Evolent Health by 42.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 8,754 shares of the technology company’s stock worth $110,000 after purchasing an additional 2,604 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Evolent Health in the 1st quarter worth about $141,000. Virtu Financial LLC purchased a new stake in Evolent Health in the 1st quarter worth about $143,000. CWM Advisors LLC purchased a new stake in Evolent Health in the 1st quarter worth about $144,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Evolent Health in the 1st quarter worth about $162,000. Institutional investors own 97.40% of the company’s stock.

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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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