Evolent Health (NYSE:EVH) announced its quarterly earnings data on Tuesday. The technology company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.07, Briefing.com reports. Evolent Health had a negative net margin of 9.84% and a negative return on equity of 1.82%. The company had revenue of $150.16 million for the quarter, compared to the consensus estimate of $142.94 million. During the same period in the prior year, the firm posted ($0.18) EPS. The company’s quarterly revenue was up 38.6% compared to the same quarter last year.
Shares of NYSE:EVH traded up $3.17 during trading hours on Wednesday, reaching $26.03. The stock had a trading volume of 2,892,214 shares, compared to its average volume of 889,023. Evolent Health has a 1 year low of $10.30 and a 1 year high of $29.05. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.79 billion, a PE ratio of -37.19 and a beta of 1.50.
In related news, CEO Frank J. Williams sold 3,878 shares of the stock in a transaction on Monday, August 20th. The shares were sold at an average price of $24.00, for a total value of $93,072.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Thomas Peterson III sold 70,000 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $27.50, for a total transaction of $1,925,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 204,607 shares of company stock worth $5,240,751. Insiders own 4.82% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of EVH. NumerixS Investment Technologies Inc purchased a new position in shares of Evolent Health in the 2nd quarter valued at $105,000. LPL Financial LLC purchased a new position in shares of Evolent Health in the 1st quarter valued at $184,000. Xact Kapitalforvaltning AB purchased a new position in shares of Evolent Health in the 1st quarter valued at $190,000. Public Employees Retirement Association of Colorado grew its position in shares of Evolent Health by 106.3% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 6,904 shares of the technology company’s stock valued at $196,000 after buying an additional 3,557 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Evolent Health in the 2nd quarter valued at $209,000.
A number of brokerages have commented on EVH. Wells Fargo & Co reissued an “outperform” rating and issued a $34.00 price objective (up from $26.00) on shares of Evolent Health in a research report on Wednesday. Piper Jaffray Companies reissued an “overweight” rating and issued a $34.00 price objective on shares of Evolent Health in a research report on Wednesday. ValuEngine downgraded shares of Evolent Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. Leerink Swann set a $35.00 price objective on shares of Evolent Health and gave the company a “buy” rating in a research report on Friday, October 5th. Finally, Citigroup increased their price objective on shares of Evolent Health from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $31.73.
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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