SunTrust Banks Equities Analysts Cut Earnings Estimates for Evolent Health, Inc (EVH)
Evolent Health, Inc (NYSE:EVH) – Stock analysts at SunTrust Banks decreased their FY2019 earnings estimates for Evolent Health in a report released on Wednesday. SunTrust Banks analyst S. Draper now forecasts that the technology company will earn $0.41 per share for the year, down from their prior estimate of $0.46. SunTrust Banks has a “Buy” rating and a $30.00 price objective on the stock.
Evolent Health (NYSE:EVH) last announced its 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 net margin of 17.57% and a negative return on equity of 6.44%. The firm had revenue of $107.30 million during the quarter, compared to the consensus estimate of $104.45 million. During the same quarter in the previous year, the company posted ($0.20) EPS. The firm’s revenue for the quarter was up 89.9% on a year-over-year basis.
EVH has been the subject of several other reports. BidaskClub downgraded Evolent Health from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Robert W. Baird reissued an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Evolent Health in a research note on Wednesday, June 14th. Leerink Swann reissued an “outperform” rating and issued a $32.00 price objective (up from $30.00) on shares of Evolent Health in a research note on Monday, June 19th. Zacks Investment Research downgraded Evolent Health from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Cowen and Company reissued an “outperform” rating and issued a $33.00 price objective (down from $35.00) on shares of Evolent Health in a research note on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Evolent Health currently has a consensus rating of “Buy” and a consensus price target of $29.33.
Shares of Evolent Health (NYSE EVH) traded up 2.038% on Thursday, reaching $16.275. 642,950 shares of the company traded hands. The company’s market capitalization is $1.07 billion. The firm has a 50-day moving average of $17.19 and a 200-day moving average of $17.19. Evolent Health has a 52-week low of $14.50 and a 52-week high of $25.66.
Hedge funds have recently modified their holdings of the business. ETF Managers Group LLC acquired a new position in Evolent Health in the 2nd quarter worth about $102,000. BNP Paribas Arbitrage SA increased its position in Evolent Health by 815.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,751 shares of the technology company’s stock worth $120,000 after purchasing an additional 4,232 shares during the last quarter. US Bancorp DE increased its position in Evolent Health by 0.3% in the 1st quarter. US Bancorp DE now owns 5,654 shares of the technology company’s stock worth $126,000 after purchasing an additional 19 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in Evolent Health in the 1st quarter worth about $126,000. Finally, Bank of Montreal Can increased its position in Evolent Health by 4,249.7% in the 1st quarter. Bank of Montreal Can now owns 6,220 shares of the technology company’s stock worth $138,000 after purchasing an additional 6,077 shares during the last quarter. 82.51% of the stock is currently owned by institutional investors.
In other Evolent Health news, CEO Steve Wigginton sold 6,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $25.07, for a total value of $150,420.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frank J. Williams sold 16,300 shares of the company’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. Over the last ninety days, insiders sold 4,366,132 shares of company stock worth $112,891,200. 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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