Evolent Health, Inc Forecasted to Post Q3 2017 Earnings of ($0.09) Per Share (EVH)
Evolent Health, Inc (NYSE:EVH) – SunTrust Banks issued their Q3 2017 EPS estimates for Evolent Health in a report issued on Thursday. SunTrust Banks analyst S. Draper anticipates that the technology company will post earnings per share of ($0.09) for the quarter. SunTrust Banks also issued estimates for Evolent Health’s Q4 2017 earnings at ($0.04) EPS, FY2017 earnings at ($0.52) EPS, FY2018 earnings at $0.03 EPS and FY2019 earnings at $0.46 EPS.
Evolent Health (NYSE:EVH) last released its quarterly earnings results on Monday, August 7th. The technology company reported ($0.13) earnings per share for the quarter, meeting the 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 analysts’ expectations of $104.45 million. During the same quarter last year, the firm posted ($0.20) EPS. The company’s revenue was up 89.9% compared to the same quarter last year.
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A number of other brokerages also recently issued reports on EVH. Leerink Swann restated an “outperform” rating and set a $32.00 price objective (up from $30.00) on shares of Evolent Health in a research report on Monday, June 19th. BidaskClub downgraded Evolent Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Robert W. Baird restated an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Evolent Health in a research report on Wednesday, June 14th. Cowen and Company restated an “outperform” rating and set a $35.00 price objective on shares of Evolent Health in a research report on Wednesday, June 28th. Finally, ValuEngine downgraded Evolent Health from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Evolent Health currently has an average rating of “Buy” and an average target price of $29.90.
Shares of Evolent Health (NYSE EVH) opened at 17.05 on Monday. The firm has a 50 day moving average price of $23.54 and a 200 day moving average price of $22.66. The stock’s market cap is $1.12 billion. Evolent Health has a 12-month low of $14.50 and a 12-month high of $27.50.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. ETF Managers Group LLC purchased a new position in shares of Evolent Health during the second quarter valued at about $102,000. BNP Paribas Arbitrage SA boosted its position in shares of Evolent Health by 815.4% in the second quarter. BNP Paribas Arbitrage SA now owns 4,751 shares of the technology company’s stock valued at $120,000 after buying an additional 4,232 shares during the period. US Bancorp DE boosted its position in shares of 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. Point72 Asia Hong Kong Ltd purchased a new position in shares of Evolent Health during the first quarter valued at about $126,000. Finally, Bank of Montreal Can boosted its position in shares of Evolent Health by 4,249.7% in the first quarter. Bank of Montreal Can now owns 6,220 shares of the technology company’s stock valued at $138,000 after buying an additional 6,077 shares during the period. 68.08% of the stock is currently owned by institutional investors.
In related news, CFO Nicholas Mcgrane sold 10,495 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $26.95, for a total value of $282,840.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Frank J. Williams sold 16,300 shares of the stock in a transaction that occurred on 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 ninety days, insiders have sold 4,398,253 shares of company stock worth $113,721,009. Insiders own 8.79% of the company’s stock.
About Evolent Health
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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