SunTrust Banks Analysts Cut Earnings Estimates for Evolent Health, Inc (EVH)
Evolent Health, Inc (NYSE:EVH) – Equities researchers at SunTrust Banks reduced their FY2019 earnings per share estimates for Evolent Health in a note issued to investors on Wednesday. SunTrust Banks analyst S. Draper now anticipates that the technology company will earn $0.41 per share for the year, down from their previous forecast of $0.46. SunTrust Banks currently has a “Buy” rating and a $30.00 target price on the stock.
EVH has been the subject of a number of other research reports. BidaskClub cut shares of Evolent Health from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Robert W. Baird restated an “outperform” rating and issued a $35.00 price objective (up previously from $30.00) on shares of Evolent Health in a research report on Wednesday, June 14th. Leerink Swann reiterated an “outperform” rating and set a $32.00 target price (up previously from $30.00) on shares of Evolent Health in a report on Monday, June 19th. Zacks Investment Research cut Evolent Health from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, Cowen and Company reiterated an “outperform” rating and set a $33.00 target price (down previously from $35.00) on shares of Evolent Health in a report on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Evolent Health presently has an average rating of “Buy” and a consensus price target of $29.33.
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Shares of Evolent Health (NYSE:EVH) traded up 3.40% on Thursday, hitting $16.75. The stock had a trading volume of 1,852,583 shares. The company’s market capitalization is $1.10 billion. The firm has a 50 day moving average price of $17.19 and a 200 day moving average price of $17.19. Evolent Health has a one year low of $14.50 and a one year high of $25.66.
Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Monday, August 7th. The technology company reported ($0.13) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.13). Evolent Health had a negative return on equity of 6.44% and a negative net margin of 17.57%. The business had revenue of $107.30 million for the quarter, compared to the consensus estimate of $104.45 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. Evolent Health’s revenue for the quarter was up 89.9% compared to the same quarter last year.
In related news, CEO Steve Wigginton sold 6,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $25.07, for a total value of $150,420.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nicholas Mcgrane sold 1,667 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $25.42, for a total transaction of $42,375.14. The disclosure for this sale can be found here. Insiders sold a total of 4,366,132 shares of company stock valued at $112,891,200 in the last 90 days. 8.79% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. FMR LLC lifted its stake in Evolent Health by 117.7% in the 2nd quarter. FMR LLC now owns 9,864,775 shares of the technology company’s stock valued at $250,073,000 after purchasing an additional 5,333,252 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Evolent Health by 7.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,438,126 shares of the technology company’s stock valued at $137,857,000 after purchasing an additional 379,185 shares during the last quarter. Vanguard Group Inc. lifted its stake in Evolent Health by 48.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,769,869 shares of the technology company’s stock valued at $95,566,000 after purchasing an additional 1,237,941 shares during the last quarter. Pennant Capital Management LLC lifted its stake in Evolent Health by 2.9% in the 1st quarter. Pennant Capital Management LLC now owns 2,843,021 shares of the technology company’s stock valued at $63,399,000 after purchasing an additional 81,300 shares during the last quarter. Finally, Riverbridge Partners LLC acquired a new stake in Evolent Health in the 2nd quarter valued at about $58,878,000. Institutional investors and hedge funds own 82.51% of the company’s stock.
About Evolent Health
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.
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