Evolent Health (NYSE:EVH) Issues Earnings Results

Evolent Health (NYSE:EVH) issued its earnings results on Tuesday. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02, FiscalAI reports. Evolent Health had a positive return on equity of 1.79% and a negative net margin of 6.24%.

Evolent Health Stock Down 7.8%

Shares of NYSE EVH traded down $0.22 during mid-day trading on Tuesday, hitting $2.56. The company had a trading volume of 5,113,008 shares, compared to its average volume of 2,929,448. Evolent Health has a 1-year low of $2.52 and a 1-year high of $12.06. The company has a market capitalization of $285.14 million, a PE ratio of -1.62 and a beta of 0.27. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.33 and a quick ratio of 1.33. The business’s 50-day simple moving average is $3.57 and its 200 day simple moving average is $5.92.

Institutional Trading of Evolent Health

Hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Evolent Health by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock worth $1,217,000 after acquiring an additional 3,572 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Evolent Health by 4,000.0% in the third quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock valued at $35,000 after purchasing an additional 4,000 shares in the last quarter. Strs Ohio acquired a new position in Evolent Health in the first quarter valued at approximately $47,000. Headlands Technologies LLC purchased a new position in Evolent Health in the second quarter valued at approximately $58,000. Finally, Osaic Holdings Inc. raised its holdings in Evolent Health by 99.2% during the second quarter. Osaic Holdings Inc. now owns 11,119 shares of the technology company’s stock worth $125,000 after purchasing an additional 5,537 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EVH shares. Citigroup cut their price objective on shares of Evolent Health from $9.50 to $6.00 and set a “buy” rating for the company in a research report on Friday, January 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Evolent Health in a report on Monday, December 29th. JPMorgan Chase & Co. cut their target price on Evolent Health from $13.00 to $7.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. BTIG Research reduced their target price on Evolent Health from $16.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Finally, Oppenheimer lowered their price target on Evolent Health from $18.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.50.

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.