FY2024 EPS Estimates for Evolent Health Lowered by Analyst

Evolent Health, Inc. (NYSE:EVH) – Stock analysts at William Blair reduced their FY2024 EPS estimates for Evolent Health in a research note issued to investors on Monday, January 27th. William Blair analyst R. Daniels now anticipates that the technology company will post earnings of $0.21 per share for the year, down from their prior estimate of $0.23. The consensus estimate for Evolent Health’s current full-year earnings is $0.26 per share. William Blair also issued estimates for Evolent Health’s FY2025 earnings at $0.01 EPS.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.38). The business had revenue of $621.40 million during the quarter, compared to the consensus estimate of $625.58 million. Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. During the same period last year, the firm earned $0.19 EPS.

Other equities research analysts have also issued research reports about the stock. BTIG Research lowered their price target on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Truist Financial lowered their target price on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Stephens lowered their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. UBS Group lowered their target price on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, KeyCorp started coverage on shares of Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price on the stock. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Evolent Health has an average rating of “Buy” and an average target price of $18.38.

Evolent Health Trading Up 0.1 %

Shares of Evolent Health stock opened at $10.44 on Thursday. The firm has a market capitalization of $1.22 billion, a PE ratio of -11.47 and a beta of 1.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The company’s fifty day moving average price is $11.36 and its two-hundred day moving average price is $20.19. Evolent Health has a 52-week low of $9.74 and a 52-week high of $35.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after purchasing an additional 1,426,747 shares during the period. Eventide Asset Management LLC increased its stake in shares of Evolent Health by 1.7% in the 3rd quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock valued at $107,580,000 after acquiring an additional 64,985 shares during the last quarter. State Street Corp increased its stake in shares of Evolent Health by 1.0% in the 3rd quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after acquiring an additional 25,967 shares during the last quarter. Bellevue Group AG increased its stake in Evolent Health by 59.9% during the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after purchasing an additional 1,000,215 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Evolent Health by 1,948.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock worth $42,289,000 after purchasing an additional 1,422,385 shares in the last quarter.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.