Evolent Health (EVH) Expected to Post Quarterly Sales of $141.83 Million

Brokerages forecast that Evolent Health (NYSE:EVH) will report sales of $141.83 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Evolent Health’s earnings. The lowest sales estimate is $141.10 million and the highest is $142.62 million. Evolent Health posted sales of $107.32 million during the same quarter last year, which would indicate a positive year over year growth rate of 32.2%. The firm is scheduled to announce its next quarterly earnings results on Monday, August 6th.

On average, analysts expect that Evolent Health will report full year sales of $577.43 million for the current fiscal year, with estimates ranging from $574.40 million to $580.40 million. For the next fiscal year, analysts forecast that the business will post sales of $667.00 million per share, with estimates ranging from $653.96 million to $680.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Evolent Health.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Wednesday, May 9th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.06. Evolent Health had a negative return on equity of 2.16% and a negative net margin of 12.11%. The firm had revenue of $139.70 million during the quarter, compared to the consensus estimate of $140.89 million. During the same period in the previous year, the firm posted ($0.14) EPS. The company’s quarterly revenue was up 31.5% compared to the same quarter last year.

EVH has been the subject of several analyst reports. ValuEngine downgraded Evolent Health from a “sell” rating to a “strong sell” rating in a report on Monday, April 2nd. Zacks Investment Research downgraded Evolent Health from a “hold” rating to a “sell” rating in a report on Thursday, March 8th. Jefferies Group set a $22.00 price target on Evolent Health and gave the company a “buy” rating in a report on Tuesday, February 13th. Canaccord Genuity cut their price target on Evolent Health from $27.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Finally, Wells Fargo cut their price target on Evolent Health from $27.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $24.90.

In other news, President Seth Blackley sold 64,398 shares of the business’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $17.63, for a total transaction of $1,135,336.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Unitedhealth Group Inc sold 3,040,000 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $13.70, for a total transaction of $41,648,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,189,994 shares of company stock valued at $44,245,316 over the last three months. Corporate insiders own 8.79% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Omni Partners LLP purchased a new stake in shares of Evolent Health during the 4th quarter valued at $820,000. Paloma Partners Management Co boosted its position in Evolent Health by 92.8% during the 4th quarter. Paloma Partners Management Co now owns 32,768 shares of the technology company’s stock worth $403,000 after purchasing an additional 15,769 shares during the period. Granite Point Capital Management L.P. boosted its position in Evolent Health by 100.0% during the 4th quarter. Granite Point Capital Management L.P. now owns 100,000 shares of the technology company’s stock worth $1,230,000 after purchasing an additional 50,000 shares during the period. US Bancorp DE boosted its position in Evolent Health by 30.5% during the 4th quarter. US Bancorp DE now owns 28,263 shares of the technology company’s stock worth $348,000 after purchasing an additional 6,609 shares during the period. Finally, Bank of Montreal Can boosted its position in Evolent Health by 124.0% during the 4th quarter. Bank of Montreal Can now owns 23,917 shares of the technology company’s stock worth $294,000 after purchasing an additional 13,240 shares during the period.

Shares of Evolent Health stock opened at $19.30 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.88 and a quick ratio of 2.88. Evolent Health has a 1 year low of $18.88 and a 1 year high of $19.45. The company has a market cap of $1.43 billion, a P/E ratio of -27.57 and a beta of 1.04.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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Earnings History and Estimates for Evolent Health (NYSE:EVH)

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