Evolent Health, Inc (EVH) Posts Quarterly Earnings Results, Hits Expectations
Evolent Health, Inc (NYSE:EVH) released its earnings results on Monday. The technology company reported ($0.13) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13), Briefing.com reports. Evolent Health had a negative net margin of 17.69% and a negative return on equity of 7.06%. The business had revenue of $107.30 million during the quarter, compared to analysts’ expectations of $104.45 million. During the same quarter last year, the company earned ($0.20) earnings per share. The firm’s revenue was up 89.9% on a year-over-year basis.
Shares of Evolent Health (EVH) traded down 0.62% on Monday, reaching $23.95. 1,076,829 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $25.82 and its 200 day moving average price is $22.62. The company’s market cap is $1.38 billion. Evolent Health has a 12 month low of $14.50 and a 12 month high of $27.50.
In other news, insider Tpg Growth Ii Advisors, Inc. sold 4,279,325 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $25.87, for a total transaction of $110,706,137.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cheryl Scott sold 5,477 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $23.51, for a total transaction of $128,764.27. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,174,238 shares of company stock valued at $254,153,952. 8.79% of the stock is currently owned by insiders.
Several equities research analysts recently weighed in on EVH shares. BidaskClub cut shares of Evolent Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of 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 Wednesday, May 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Evolent Health in a research note on Thursday, April 13th. TheStreet upgraded shares of Evolent Health from a “d” rating to a “c-” rating in a research note on Monday, May 22nd. Finally, Cowen and Company reiterated an “outperform” rating and issued a $35.00 target price on shares of Evolent Health in a research note on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $30.10.
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Evolent Health Company Profile
Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.
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