Evolent Health (EVH) Announces Earnings Results

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Evolent Health (NYSE:EVH) issued its quarterly earnings results on Tuesday. The technology company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.07, Briefing.com reports. The firm had revenue of $150.16 million during the quarter, compared to the consensus estimate of $142.94 million. Evolent Health had a negative return on equity of 1.82% and a negative net margin of 9.84%. The business’s revenue was up 38.6% compared to the same quarter last year. During the same period last year, the business posted ($0.18) EPS.

Shares of EVH traded up $3.17 during trading hours on Wednesday, hitting $26.03. The stock had a trading volume of 2,892,214 shares, compared to its average volume of 889,023. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 2.59. The company has a market cap of $1.79 billion, a PE ratio of -37.19 and a beta of 1.50. Evolent Health has a 1-year low of $10.30 and a 1-year high of $29.05.

Several analysts have recently commented on the company. Wells Fargo & Co restated an “outperform” rating and issued a $34.00 target price (up from $26.00) on shares of Evolent Health in a research note on Wednesday. Piper Jaffray Companies restated an “overweight” rating and issued a $34.00 target price on shares of Evolent Health in a research note on Wednesday. ValuEngine upgraded Evolent Health from a “hold” rating to a “buy” rating in a research note on Thursday, August 9th. Citigroup raised their target price on Evolent Health from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, October 4th. Finally, Zacks Investment Research upgraded Evolent Health from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating and thirteen have given a buy rating to the stock. Evolent Health presently has a consensus rating of “Buy” and an average target price of $31.73.

In related news, CEO Frank J. Williams sold 41,015 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $24.02, for a total value of $985,180.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lydia Stone sold 6,805 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $25.00, for a total transaction of $170,125.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 204,607 shares of company stock valued at $5,240,751. 4.82% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NumerixS Investment Technologies Inc bought a new position in Evolent Health in the 2nd quarter valued at about $105,000. LPL Financial LLC bought a new position in Evolent Health in the 1st quarter valued at about $184,000. Xact Kapitalforvaltning AB bought a new position in Evolent Health in the 1st quarter valued at about $190,000. Public Employees Retirement Association of Colorado lifted its position in Evolent Health by 106.3% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 6,904 shares of the technology company’s stock valued at $196,000 after acquiring an additional 3,557 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in Evolent Health in the 2nd quarter valued at about $209,000.

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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 for Evolent Health (NYSE:EVH)

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