Zacks: Analysts Anticipate Evolent Health Inc (EVH) Will Post Quarterly Sales of $141.88 Million

Analysts expect Evolent Health Inc (NYSE:EVH) to report sales of $141.88 million for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for Evolent Health’s earnings. The highest sales estimate is $142.75 million and the lowest is $140.70 million. Evolent Health posted sales of $107.32 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 32.2%. The business is scheduled to report its next quarterly earnings results on Monday, August 6th.

On average, analysts expect that Evolent Health will report full year sales of $578.14 million for the current year, with estimates ranging from $574.40 million to $585.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $668.67 million per share, with estimates ranging from $653.96 million to $680.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Evolent Health.

Evolent Health (NYSE:EVH) last announced its earnings results on Wednesday, May 9th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.06. Evolent Health had a negative return on equity of 2.16% and a negative net margin of 12.11%. The company had revenue of $139.70 million for the quarter, compared to analyst estimates of $140.89 million. During the same period in the prior year, the company posted ($0.14) EPS. Evolent Health’s quarterly revenue was up 31.5% on a year-over-year basis.



A number of brokerages have issued reports on EVH. MED upped their target price on Evolent Health from $22.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, June 18th. SunTrust Banks upped their target price on Evolent Health and gave the company a “buy” rating in a research report on Thursday, June 7th. KeyCorp upped their target price on Evolent Health from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, June 7th. TheStreet raised Evolent Health from a “d+” rating to a “c-” rating in a research report on Monday, June 4th. Finally, Piper Jaffray Companies started coverage on Evolent Health in a research report on Monday, June 4th. They set an “overweight” rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $26.08.

In related news, President Seth Blackley sold 85,596 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $17.08, for a total transaction of $1,461,979.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank J. Williams sold 15,000 shares of the company’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $20.04, for a total value of $300,600.00. The disclosure for this sale can be found here. Insiders have sold 3,102,665 shares of company stock valued at $59,506,082 in the last ninety days. Company insiders own 4.82% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Paloma Partners Management Co lifted its holdings in shares of Evolent Health by 92.8% during the fourth quarter. Paloma Partners Management Co now owns 32,768 shares of the technology company’s stock valued at $403,000 after purchasing an additional 15,769 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Evolent Health by 30.5% during the fourth quarter. US Bancorp DE now owns 28,263 shares of the technology company’s stock valued at $348,000 after purchasing an additional 6,609 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Evolent Health by 124.0% during the fourth quarter. Bank of Montreal Can now owns 23,917 shares of the technology company’s stock valued at $294,000 after purchasing an additional 13,240 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Evolent Health during the fourth quarter valued at $172,000. Finally, Cortina Asset Management LLC lifted its holdings in shares of Evolent Health by 43.4% during the fourth quarter. Cortina Asset Management LLC now owns 413,406 shares of the technology company’s stock valued at $5,085,000 after purchasing an additional 125,053 shares during the last quarter.

Shares of Evolent Health traded up $0.35, reaching $23.15, during trading on Tuesday, according to MarketBeat. The company’s stock had a trading volume of 1,402,232 shares, compared to its average volume of 1,165,431. Evolent Health has a twelve month low of $10.30 and a twelve month high of $27.25. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -33.07 and a beta of 1.14. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.12.

About Evolent Health

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 and Estimates for Evolent Health (NYSE:EVH)

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