Brokers Issue Forecasts for Evolent Health Inc’s FY2018 Earnings (EVH)
Evolent Health Inc (NYSE:EVH) – Piper Jaffray Companies raised their FY2018 earnings estimates for Evolent Health in a research note issued on Wednesday, November 7th. Piper Jaffray Companies analyst S. Wieland now anticipates that the technology company will post earnings per share of ($0.33) for the year, up from their prior forecast of ($0.41). Piper Jaffray Companies has a “Overweight” rating and a $34.00 price target on the stock. Piper Jaffray Companies also issued estimates for Evolent Health’s Q4 2018 earnings at ($0.12) EPS.
Several other research firms have also weighed in on EVH. ValuEngine raised shares of Evolent Health from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 14th. Canaccord Genuity lifted their price objective on shares of Evolent Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, September 13th. Leerink Swann set a $35.00 price objective on shares of Evolent Health and gave the stock a “buy” rating in a research note on Friday, October 5th. Citigroup lifted their price objective on shares of Evolent Health from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, October 4th. Finally, KeyCorp reissued an “overweight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Evolent Health in a research note on Thursday, September 13th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $31.73.
Evolent Health (NYSE:EVH) last released its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.07. Evolent Health had a negative net margin of 9.05% and a negative return on equity of 2.18%. The business had revenue of $150.16 million for the quarter, compared to analyst estimates of $142.94 million. During the same quarter last year, the firm earned ($0.18) EPS. Evolent Health’s quarterly revenue was up 38.6% compared to the same quarter last year.
In other Evolent Health news, CEO Frank J. Williams sold 37,909 shares of Evolent Health stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $24.02, for a total value of $910,574.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lydia Stone sold 6,805 shares of Evolent Health stock in a transaction that occurred on 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. In the last ninety days, insiders sold 163,592 shares of company stock worth $4,255,571. Insiders own 4.82% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in EVH. LPL Financial LLC bought a new position in Evolent Health in the first quarter valued at approximately $184,000. Legal & General Group Plc lifted its stake in Evolent Health by 16.8% in the first quarter. Legal & General Group Plc now owns 26,437 shares of the technology company’s stock valued at $377,000 after buying an additional 3,811 shares in the last quarter. Xact Kapitalforvaltning AB bought a new position in Evolent Health in the first quarter valued at approximately $190,000. Campbell & CO Investment Adviser LLC bought a new position in Evolent Health in the second quarter valued at approximately $385,000. Finally, Lenox Wealth Advisors LLC bought a new position in Evolent Health in the second quarter valued at approximately $1,532,000.
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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