Cantor Fitzgerald analyst Steven Halper reiterated a Buy rating on Evolent Health (EVH) today and set a price target of $20. The company’s shares opened today at $13.04, close to its 52-week low of $12.09.
Halper commented:
“We reaffirm our Overweight rating and $20 PT on EVH. EVH’s population health-management tools enable healthcare organizations to transition to value-based reimbursement. Its primary customers include captive health insurance plans of large, integrated delivery networks. Given the ongoing shift to value-based reimbursement, we believe EVH is well-positioned to grow rapidly given the large addressable market. Despite some concerns about the future of the Affordable Care Act (ACA), we believe market forces will continue to drive the shift to value-based reimbursement in many large population markets.”
According to TipRanks.com, Halper is a top 100 analyst with an average return of 17.1% and a 62.1% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
Evolent Health has an analyst consensus of Strong Buy, with a price target consensus of $21.56, representing a 65.3% upside. In a report released today, Robert W. Baird also maintained a Buy rating on the stock with a $25 price target.
See today’s analyst top recommended stocks >>
Based on Evolent Health’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $16.69 million. In comparison, last year the company had a GAAP net loss of $13.16 million.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EVH in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Evolent Health, Inc. engages in the provision of health care delivery and payment services. Its solutions include population health management, health plan administration and third party administration, network performance management, risk adjustment, pharmacy benefit management, analytics and performance improvement, and technology and electronic medical record integration. The firm operates through Services segment and True Health segment. The Services segment includes three types of services designed to help partners manage patient health; value-based care services, specialty care management services and comprehensive health plan administration services. The True Health segment, which operates a health plan in New Mexico, and provides reinsurance to NMHC, takes on certain insurance and underwriting costs in pricing its premiums. The company was founded by Frank J. Williams, Seth B. Blackley, and Tom Peterson in August 2011 and is headquartered in Arlington, VA.
