Evolent Health Inc. (NYSE:EVH) – Analysts at William Blair dropped their FY2018 earnings estimates for Evolent Health in a research report issued on Tuesday. William Blair analyst R. Daniels now anticipates that the brokerage will post earnings per share of $0.03 for the year, down from their previous estimate of $0.06. William Blair currently has a “Outperform” rating on the stock.
Several other analysts have also recently commented on the company. Jefferies Group set a $28.00 target price on Evolent Health and gave the stock a “buy” rating in a report on Tuesday. Leerink Swann reaffirmed a “buy” rating on shares of Evolent Health in a research note on Wednesday. Canaccord Genuity set a $30.00 price target on Evolent Health and gave the company a “buy” rating in a research note on Wednesday, September 28th. Finally, FBR & Co upped their price target on Evolent Health from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Evolent Health presently has an average rating of “Buy” and a consensus target price of $22.50.
Evolent Health (NYSE:EVH) traded up 4.25% during trading on Wednesday, reaching $25.29. The company’s stock had a trading volume of 534,534 shares. The stock’s 50 day moving average is $23.74 and its 200-day moving average is $18.17. The firm’s market cap is $1.52 billion. Evolent Health has a 52 week low of $8.14 and a 52 week high of $26.84.
Evolent Health (NYSE:EVH) last released its earnings results on Thursday, August 4th. The company reported ($0.12) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.04. Evolent Health had a negative return on equity of 5.04% and a negative net margin of 76.55%. The company had revenue of $56.50 million for the quarter, compared to analysts’ expectations of $51.96 million. During the same quarter in the previous year, the business posted ($0.95) EPS. The business’s revenue for the quarter was up 443.3% on a year-over-year basis.
In other Evolent Health news, CEO Frank J. Williams sold 251,481 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $21.54, for a total value of $5,416,900.74. Following the transaction, the chief executive officer now owns 1,304,799 shares of the company’s stock, valued at $28,105,370.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Board Co Advisory sold 1,936,529 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $22.50, for a total value of $43,571,902.50. Following the completion of the transaction, the insider now directly owns 4,445,879 shares in the company, valued at approximately $100,032,277.50. The disclosure for this sale can be found here. 8.85% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. bought a new position in Evolent Health during the second quarter valued at $2,019,000. Schwab Charles Investment Management Inc. raised its position in Evolent Health by 1.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 42,784 shares of the company’s stock valued at $822,000 after buying an additional 504 shares during the last quarter. Metropolitan Life Insurance Co. NY bought a new position in Evolent Health during the second quarter valued at $199,000. Capital World Investors bought a new position in Evolent Health during the second quarter valued at $3,096,000. Finally, Barclays PLC bought a new position in Evolent Health during the second quarter valued at $144,000. 40.22% of the stock is currently owned by hedge funds and other institutional investors.
Evolent Health Company Profile
Evolent Health, Inc supports integrated health systems in their migration towards value-based care and population health management. The Company’s services include providing customers with a population management platform, integrated data and analytics capabilities, pharmacy benefit management services and health plan administration services.
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