Equities research analysts expect that Evolent Health (NYSE:EVH) will post $141.93 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Evolent Health’s earnings, with the highest sales estimate coming in at $142.75 million and the lowest estimate coming in at $141.10 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 company is expected to announce its next earnings results on Monday, August 6th.
According to Zacks, analysts expect that Evolent Health will report full year sales of $577.47 million for the current financial year, with estimates ranging from $574.40 million to $580.40 million. For the next year, analysts expect that the business will report sales of $667.51 million per share, with estimates ranging from $653.96 million to $680.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Evolent Health.
Evolent Health (NYSE:EVH) last announced its earnings results on Wednesday, May 9th. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.06. The business had revenue of $139.70 million for the quarter, compared to analyst estimates of $140.89 million. Evolent Health had a negative return on equity of 2.16% and a negative net margin of 12.11%. The company’s quarterly revenue was up 31.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.14) EPS.
EVH has been the topic of a number of research analyst reports. ValuEngine upgraded Evolent Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded Evolent Health from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Monday, May 14th. Canaccord Genuity decreased their target price on Evolent Health from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Jefferies Group set a $22.00 target price on Evolent Health and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, Wells Fargo decreased their target price on Evolent Health from $27.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. Evolent Health has a consensus rating of “Buy” and an average price target of $24.90.
NYSE EVH traded down $0.03 during trading on Wednesday, reaching $19.50. The company’s stock had a trading volume of 441,100 shares, compared to its average volume of 852,689. The firm has a market capitalization of $1.52 billion, a P/E ratio of -27.86 and a beta of 1.04. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.12. Evolent Health has a one year low of $10.30 and a one year high of $27.50.
In other news, President Seth Blackley sold 85,596 shares of the company’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $17.08, for a total value of $1,461,979.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Unitedhealth Group Inc sold 3,040,000 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $13.70, for a total value of $41,648,000.00. The disclosure for this sale can be found here. Insiders sold a total of 3,189,994 shares of company stock valued at $44,245,316 over the last quarter. Company insiders own 4.82% of the company’s stock.
A number of hedge funds have recently modified their holdings of EVH. Jane Street Group LLC purchased a new stake in Evolent Health during the 4th quarter valued at about $144,000. Quantbot Technologies LP boosted its holdings in Evolent Health by 111.4% during the 1st quarter. Quantbot Technologies LP now owns 10,815 shares of the technology company’s stock valued at $154,000 after acquiring an additional 5,698 shares during the period. Virtu Financial LLC purchased a new stake in Evolent Health during the 4th quarter valued at about $172,000. Fox Run Management L.L.C. purchased a new stake in Evolent Health during the 4th quarter valued at about $175,000. Finally, LPL Financial LLC purchased a new stake in Evolent Health during the 1st quarter valued at about $184,000.
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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