Evolent Health Inc. (EVH) Issues Earnings Results, Beats Expectations By $0.02 EPS
Evolent Health Inc. (NYSE:EVH) announced its quarterly earnings data on Wednesday. The company reported ($0.11) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.02. The firm earned $60.20 million during the quarter, compared to analyst estimates of $58.35 million. Evolent Health had a negative return on equity of 5.43% and a negative net margin of 69.04%. The company’s revenue was up 39.0% on a year-over-year basis. During the same period last year, the company earned ($0.16) earnings per share.
Evolent Health (NYSE:EVH) opened at 18.45 on Friday. The firm’s market capitalization is $1.11 billion. The stock’s 50 day moving average price is $22.56 and its 200 day moving average price is $20.21. Evolent Health has a 52-week low of $8.14 and a 52-week high of $26.84.
In other news, CEO Frank J. Williams sold 251,481 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $21.54, for a total transaction of $5,416,900.74. Following the completion of the sale, the chief executive officer now directly owns 1,304,799 shares in the company, valued at approximately $28,105,370.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Board Co Advisory sold 317,712 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $22.50, for a total value of $7,148,520.00. Following the sale, the insider now owns 4,128,167 shares of the company’s stock, valued at $92,883,757.50. The disclosure for this sale can be found here. Insiders own 8.85% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC bought a new stake in Evolent Health during the third quarter worth $6,340,000. Laurion Capital Management LP bought a new stake in Evolent Health during the third quarter worth $2,770,000. Morgan Stanley increased its stake in Evolent Health by 35.2% in the third quarter. Morgan Stanley now owns 20,926 shares of the company’s stock worth $515,000 after buying an additional 5,453 shares during the last quarter. Timpani Capital Management LLC bought a new stake in Evolent Health during the third quarter worth $885,000. Finally, Northern Trust Corp increased its stake in Evolent Health by 9.7% in the third quarter. Northern Trust Corp now owns 176,669 shares of the company’s stock worth $4,350,000 after buying an additional 15,593 shares during the last quarter. Hedge funds and other institutional investors own 39.42% of the company’s stock.
A number of analysts recently commented on the company. Zacks Investment Research upgraded Evolent Health from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Tuesday, October 11th. Canaccord Genuity reiterated a “buy” rating and issued a $30.00 price objective on shares of Evolent Health in a research report on Sunday, August 7th. Jefferies Group set a $28.00 price objective on Evolent Health and gave the stock a “buy” rating in a research report on Tuesday, October 4th. Leerink Swann reiterated a “buy” rating on shares of Evolent Health in a research report on Wednesday, October 5th. Finally, FBR & Co lifted their price objective on Evolent Health from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Seven investment analysts have rated the stock with a buy rating, Evolent Health currently has a consensus rating of “Buy” and a consensus price target of $27.00.
About Evolent Health
Evolent Health, Inc supports integrated health systems in their migration towards value-based care and population health management. The Company’s services include providing customers with a population management platform, integrated data and analytics capabilities, pharmacy benefit management services and health plan administration services.
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