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Stock Alert: Evolent Gains 11%

Evolent Health, Inc. (EVH) shares are rising as its revenue increased for the first quarter and it claimed its business to be well-positioned in the market given the mission-critical nature of its service offering at the time of COVID 19. However, the health care company announced first-quarter net loss attributable to shareholders of $77.752 million, compared to loss of $46.74 million in the prior month. Revenue for the quarter climbed to $247.29 million from $197.76 million in the prior month.

EVH is currently at $7.75, up 11.35 percent, from the previous close of $6.96. The shares gapped up at $7.14 at open.

For the full year 2020, the company expects adjusted revenue to be in the range of approximately $935.0 million to $985.0 million. For the three months ended June 30, 2020, Adjusted Revenue is expected to be in the range of approximately $236.0 million to $247.0 million.

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