As previously reported, Stephens analyst Jeff Garro downgraded Evolent Health (EVH) to Equal Weight from Overweight with a price target of $16, down from $38. Rising oncology costs are stressing Evolent’s profitability and exposing timing issues inherent to its at-risk Performance Suite business, the analyst tells investors in a research note. While the firm thinks these weaknesses can be remedied, improving contractual protections across the entire book will take time, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EVH:
- Evolent Health downgraded to Equal Weight from Overweight at Stephens
- Evolent Health Reports Revenue Growth Amid Challenges
- Closing Bell Movers: Toast gains 19% afterhours after earnings beat
- Evolent Health sees FY24 revenue $2.55B-$2.575B, consensus $2.58B
- Evolent Health reports Q3 adjusted EPS 4c, consensus 34c