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Evolent Health (EVH) Prices 7.5M Follow-On Share Offering
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Provider of integrated value-based care platform to health systems and physician organizations, Evolent Health, Inc. (EVH - Free Report) announced the pricing of its follow-on public offering of 7.5 million shares of Class A common stock at $21.25 per share.
Stock Performance
The price performance of the stock has been favorable in the last three months. Evolent Health registered a return of 42.76%, outperforming the Zacks classified Internet Software sub-industry’s gain of almost 6.93%.
However, the estimate revision trend for the current year has been unfavorable as two estimates moved south in the last two months compared with no movements in the opposite direction. Thus, investors are waiting for a reversal in estimates before adding the stock. This justifies the stock’s Zacks Rank #3 (Hold).
We are also optimistic about the long-term expected growth of the stock which is pegged at 30.0% and has a projected sales growth of 64.2%, which is a lot higher than the industry average of 13.3%.
Coming back to the news, the follow-on offering is expected to close on Mar 31, 2017. As of Dec 31, 2016, total cash, cash equivalents and investments are pegged at $178.9 million compared with $155.2 million as of Dec 31, 2015.
Based in Pittsburgh, PA, Evolent Health provides integrated value-based care platform to leading health systems and physician organizations. The company provides a combination of software and services to help large health systems. It manages the increasing amount of risk associated with insurance contracts that pay providers to keep patients health. The company also helps health systems with insurance plans.
Inogen has a long-term expected earnings growth rate of 17.05%. Notably, the stock registered an impressive one-year return of 82%.
Avinger projects sales growth of 30.6% for the current year. Additionally, the company has a projected EPS growth rate of 39.53% for the current fiscal.
Fluidigm Corporation has a long-term expected earnings growth rate of 25%. The stock delivered a positive earnings surprise of 1.6% in the last reported quarter.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
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Evolent Health (EVH) Prices 7.5M Follow-On Share Offering
Provider of integrated value-based care platform to health systems and physician organizations, Evolent Health, Inc. (EVH - Free Report) announced the pricing of its follow-on public offering of 7.5 million shares of Class A common stock at $21.25 per share.
Stock Performance
The price performance of the stock has been favorable in the last three months. Evolent Health registered a return of 42.76%, outperforming the Zacks classified Internet Software sub-industry’s gain of almost 6.93%.
However, the estimate revision trend for the current year has been unfavorable as two estimates moved south in the last two months compared with no movements in the opposite direction. Thus, investors are waiting for a reversal in estimates before adding the stock. This justifies the stock’s Zacks Rank #3 (Hold).
We are also optimistic about the long-term expected growth of the stock which is pegged at 30.0% and has a projected sales growth of 64.2%, which is a lot higher than the industry average of 13.3%.
Coming back to the news, the follow-on offering is expected to close on Mar 31, 2017. As of Dec 31, 2016, total cash, cash equivalents and investments are pegged at $178.9 million compared with $155.2 million as of Dec 31, 2015.
Based in Pittsburgh, PA, Evolent Health provides integrated value-based care platform to leading health systems and physician organizations. The company provides a combination of software and services to help large health systems. It manages the increasing amount of risk associated with insurance contracts that pay providers to keep patients health. The company also helps health systems with insurance plans.
Key Picks
Better-ranked stocks in the broader medical sector include Inogen Inc. (INGN - Free Report) , Avinger, Inc. (AVGR - Free Report) and Fluidigm Corporation . Notably, Inogen sports a Zacks Rank #1 (Strong Buy) while Fluidigm and Avinger carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Inogen has a long-term expected earnings growth rate of 17.05%. Notably, the stock registered an impressive one-year return of 82%.
Avinger projects sales growth of 30.6% for the current year. Additionally, the company has a projected EPS growth rate of 39.53% for the current fiscal.
Fluidigm Corporation has a long-term expected earnings growth rate of 25%. The stock delivered a positive earnings surprise of 1.6% in the last reported quarter.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>