Evolent Health (NYSE:EVH) Issues Earnings Results, Beats Estimates By $0.03 EPS

Evolent Health (NYSE:EVH) released its quarterly earnings data on Tuesday. The technology company reported ($0.26) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.03, Bloomberg Earnings reports. Evolent Health had a negative return on equity of 4.80% and a negative net margin of 12.52%. The business had revenue of $192.00 million during the quarter, compared to analyst estimates of $192.51 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The business’s revenue for the quarter was up 33.1% compared to the same quarter last year.

EVH stock opened at $5.82 on Wednesday. The company has a fifty day moving average of $7.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.96 and a current ratio of 1.96. The firm has a market cap of $528.30 million, a P/E ratio of -16.63 and a beta of 1.07. Evolent Health has a twelve month low of $5.73 and a twelve month high of $29.05.

A number of research analysts recently issued reports on the company. Zacks Investment Research lowered Evolent Health from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine raised Evolent Health from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $16.00 target price (down previously from $18.00) on shares of Evolent Health in a research note on Wednesday. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $25.02.

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Evolent Health by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,243,019 shares of the technology company’s stock valued at $64,698,000 after purchasing an additional 55,367 shares in the last quarter. Elk Creek Partners LLC boosted its stake in shares of Evolent Health by 5.5% during the 1st quarter. Elk Creek Partners LLC now owns 1,832,893 shares of the technology company’s stock valued at $23,058,000 after purchasing an additional 94,887 shares in the last quarter. Cortina Asset Management LLC boosted its stake in shares of Evolent Health by 15.9% during the 2nd quarter. Cortina Asset Management LLC now owns 1,677,508 shares of the technology company’s stock valued at $13,336,000 after purchasing an additional 230,638 shares in the last quarter. Peregrine Capital Management LLC boosted its stake in shares of Evolent Health by 18.5% during the 1st quarter. Peregrine Capital Management LLC now owns 1,127,984 shares of the technology company’s stock valued at $14,190,000 after purchasing an additional 175,889 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its stake in shares of Evolent Health by 4.1% during the 1st quarter. Baillie Gifford & Co. now owns 1,073,384 shares of the technology company’s stock valued at $13,503,000 after purchasing an additional 42,631 shares in the last quarter. 97.99% of the stock is currently owned by institutional investors.

Evolent Health Company Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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Earnings History for Evolent Health (NYSE:EVH)

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