Q3 2017 Earnings Estimate for Evolent Health, Inc Issued By William Blair (EVH)
Evolent Health, Inc (NYSE:EVH) – Stock analysts at William Blair cut their Q3 2017 earnings per share estimates for Evolent Health in a report released on Monday. William Blair analyst R. Daniels now forecasts that the technology company will earn ($0.07) per share for the quarter, down from their previous estimate of ($0.06). William Blair also issued estimates for Evolent Health’s Q4 2017 earnings at ($0.04) EPS, FY2017 earnings at ($0.54) EPS and FY2018 earnings at $0.02 EPS.
Evolent Health (NYSE:EVH) last posted its earnings results on Monday, August 7th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.13). Evolent Health had a negative return on equity of 6.44% and a negative net margin of 17.57%. The firm had revenue of $107.30 million for the quarter, compared to analyst estimates of $104.45 million. During the same quarter in the prior year, the company earned ($0.20) EPS. Evolent Health’s revenue was up 89.9% on a year-over-year basis. TRADEMARK VIOLATION WARNING: This report was first posted by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://www.americanbankingnews.com/2017/08/17/q3-2017-earnings-estimate-for-evolent-health-inc-issued-by-william-blair-evh.html.
A number of other brokerages have also recently weighed in on EVH. BidaskClub cut Evolent Health from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Cowen and Company reiterated an “outperform” rating and issued a $35.00 target price on shares of Evolent Health in a report on Wednesday, June 28th. ValuEngine cut Evolent Health from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Robert W. Baird assumed coverage on Evolent Health in a report on Thursday, June 1st. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, Zacks Investment Research cut Evolent Health from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. Three investment analysts have rated the stock with a sell rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $29.90.
Shares of Evolent Health (EVH) opened at 17.25 on Thursday. The stock’s market cap is $1.14 billion. Evolent Health has a one year low of $14.50 and a one year high of $27.50. The firm’s 50-day moving average price is $24.02 and its 200 day moving average price is $22.70.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in Evolent Health by 0.3% in the first quarter. US Bancorp DE now owns 5,654 shares of the technology company’s stock valued at $126,000 after buying an additional 19 shares during the period. Gradient Investments LLC boosted its position in Evolent Health by 3.0% in the second quarter. Gradient Investments LLC now owns 16,719 shares of the technology company’s stock valued at $424,000 after buying an additional 489 shares during the period. American International Group Inc. boosted its position in Evolent Health by 7.5% in the first quarter. American International Group Inc. now owns 9,403 shares of the technology company’s stock valued at $210,000 after buying an additional 653 shares during the period. White Pine Investment CO boosted its position in Evolent Health by 0.8% in the first quarter. White Pine Investment CO now owns 97,470 shares of the technology company’s stock valued at $2,174,000 after buying an additional 750 shares during the period. Finally, Teachers Advisors LLC boosted its position in Evolent Health by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 25,119 shares of the technology company’s stock valued at $372,000 after buying an additional 1,211 shares during the period. Institutional investors and hedge funds own 68.08% of the company’s stock.
In related news, major shareholder Upmc sold 2,333,333 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $24.30, for a total value of $56,699,991.90. Following the transaction, the insider now owns 6,434,283 shares in the company, valued at $156,353,076.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frank J. Williams sold 16,300 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $23.73, for a total value of $386,799.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,055,859 shares of company stock worth $251,196,508. Insiders own 8.79% of the company’s stock.
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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