Evolent Health Hits New 52 Week High, Valence Buy The Key
Zacks Investment Research | Jul 15, 2016 03:51AM ET
Shares of Evolent Health Inc. (NYSE:EVH) scaled a new 52-week high of $23.64 on Jul 14, eventually closing a tad bit lower at $23.46. This translates into an impressive year-to-date return of roughly 93.7%, significantly higher than the S&P 500 return of 2.27%.
This rally was primarily driven by Evolent’s growing customer base and expanding footprint. The company’s recently announced acquisition of Chicago-based Valence Health is expected to drive growth in the long haul.
This Zacks Rank #3 (Hold) stock has a market cap of around $951.44 million while average volume of shares traded over the last three months is roughly 198.9K.
Key Growth Factors
As of Mar 31, 2016, Evolent had more than $1.2 million lives on its platform. In the first quarter alone, the company added over 50,000 lives in two markets through the expansion into the Medicare Shared Savings Program and an additional 417,000 lives in Medicaid.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.