Evolent Health, Inc (NYSE:EVH) Announces Earnings Results

Evolent Health, Inc (NYSE:EVH) announced its quarterly earnings results on Monday, August 7th. The technology company reported ($0.13) EPS for the quarter, meeting analysts’ consensus estimates of ($0.13), Briefing.com reports. The firm had revenue of $107.30 million during the quarter, compared to analysts’ expectations of $104.45 million. Evolent Health had a negative net margin of 17.57% and a negative return on equity of 6.44%. The company’s revenue for the quarter was up 89.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.20) earnings per share.

Evolent Health (NYSE EVH) remained flat at $17.05 during trading on Friday. 1,576,922 shares of the stock were exchanged. Evolent Health has a 12 month low of $14.50 and a 12 month high of $27.50. The firm’s market capitalization is $1.12 billion. The firm’s 50-day moving average price is $23.54 and its 200 day moving average price is $22.66.

EVH has been the subject of a number of recent analyst reports. BidaskClub cut shares of Evolent Health from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Cowen and Company reissued an “outperform” rating and issued a $35.00 price objective on shares of Evolent Health in a research report on Wednesday, June 28th. ValuEngine lowered shares of Evolent Health from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. J P Morgan Chase & Co reissued a “buy” rating on shares of Evolent Health in a research report on Friday. Finally, Leerink Swann set a $32.00 price objective on shares of Evolent Health and gave the company a “buy” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $29.90.

In other news, CFO Nicholas Mcgrane sold 1,667 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $24.58, for a total transaction of $40,974.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frank J. Williams sold 16,300 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $24.76, for a total transaction of $403,588.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,398,253 shares of company stock worth $113,721,009. Company insiders own 8.79% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE boosted its position in Evolent Health by 0.3% in the first quarter. US Bancorp DE now owns 5,654 shares of the technology company’s stock valued at $126,000 after buying an additional 19 shares during the period. Gradient Investments LLC boosted its position in Evolent Health by 3.0% in the second quarter. Gradient Investments LLC now owns 16,719 shares of the technology company’s stock valued at $424,000 after buying an additional 489 shares during the period. American International Group Inc. boosted its position in Evolent Health by 7.5% in the first quarter. American International Group Inc. now owns 9,403 shares of the technology company’s stock valued at $210,000 after buying an additional 653 shares during the period. White Pine Investment CO boosted its position in Evolent Health by 0.8% in the first quarter. White Pine Investment CO now owns 97,470 shares of the technology company’s stock valued at $2,174,000 after buying an additional 750 shares during the period. Finally, Teachers Advisors LLC boosted its position in Evolent Health by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 25,119 shares of the technology company’s stock valued at $372,000 after buying an additional 1,211 shares during the period. Institutional investors own 68.08% of the company’s stock.

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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.

Earnings History for Evolent Health (NYSE:EVH)

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