Evolent Health, Inc. (NYSE:EVH) Expected to Post Quarterly Sales of $289.23 Million

Equities analysts expect that Evolent Health, Inc. (NYSE:EVHGet Rating) will announce $289.23 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Evolent Health’s earnings, with the highest sales estimate coming in at $292.06 million and the lowest estimate coming in at $286.40 million. Evolent Health posted sales of $215.07 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 34.5%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Evolent Health will report full-year sales of $1.16 billion for the current fiscal year, with estimates ranging from $1.15 billion to $1.18 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.37 billion, with estimates ranging from $1.33 billion to $1.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Evolent Health.

Evolent Health (NYSE:EVHGet Rating) last posted its quarterly earnings results on Wednesday, February 23rd. The technology company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.08. Evolent Health had a negative return on equity of 2.43% and a negative net margin of 4.14%. The business had revenue of $248.36 million during the quarter, compared to the consensus estimate of $236.36 million. During the same period last year, the firm earned ($0.06) earnings per share.

A number of equities analysts have issued reports on EVH shares. BTIG Research raised their target price on shares of Evolent Health from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, March 25th. StockNews.com started coverage on shares of Evolent Health in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research cut shares of Evolent Health from a “buy” rating to a “hold” rating in a report on Wednesday, March 2nd. Piper Sandler cut their target price on shares of Evolent Health from $36.00 to $32.00 in a report on Thursday, February 24th. Finally, Guggenheim began coverage on Evolent Health in a report on Tuesday, March 29th. They set a “buy” rating and a $43.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $38.67.

Shares of NYSE EVH opened at $28.82 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.18 and a quick ratio of 1.18. The firm’s 50-day moving average price is $29.51 and its two-hundred day moving average price is $27.41. Evolent Health has a 52-week low of $17.62 and a 52-week high of $34.60.

In related news, Director Frank J. Williams sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $23.70, for a total transaction of $474,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Steve Tutewohl sold 1,707 shares of the firm’s stock in a transaction that occurred on Thursday, February 3rd. The shares were sold at an average price of $22.85, for a total transaction of $39,004.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,013 shares of company stock worth $713,051. Corporate insiders own 4.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of Evolent Health by 5.2% during the fourth quarter. BlackRock Inc. now owns 5,889,963 shares of the technology company’s stock valued at $162,974,000 after acquiring an additional 290,576 shares during the period. Granahan Investment Management Inc. MA grew its position in Evolent Health by 1.0% in the third quarter. Granahan Investment Management Inc. MA now owns 4,813,553 shares of the technology company’s stock worth $149,220,000 after buying an additional 45,567 shares during the last quarter. Loomis Sayles & Co. L P grew its position in Evolent Health by 24.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,982,292 shares of the technology company’s stock worth $54,850,000 after buying an additional 394,503 shares during the last quarter. Rock Springs Capital Management LP grew its position in Evolent Health by 10.4% in the third quarter. Rock Springs Capital Management LP now owns 1,875,000 shares of the technology company’s stock worth $58,125,000 after buying an additional 175,957 shares during the last quarter. Finally, State Street Corp grew its position in Evolent Health by 3.0% in the fourth quarter. State Street Corp now owns 1,581,239 shares of the technology company’s stock worth $43,753,000 after buying an additional 46,772 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Evolent Health Company Profile (Get Rating)

Evolent Health, Inc, a healthcare company, through its subsidiary, Evolent Health LLC, provides clinical and administrative solutions to payers and providers in the United States. It operates in two segments, Evolent Health Services and Clinical Solutions. The Evolent Health Services segment provides an integrated administrative and clinical platform for health plan administration and population health management.

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