Evolent Health (EVH) to Release Earnings on Thursday

Evolent Health (NYSE:EVH) will be issuing its quarterly earnings data after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.30 per share for the quarter. Evolent Health has set its Q3 2024 guidance at EPS and its FY 2024 guidance at EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.09. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The firm had revenue of $647.10 million for the quarter, compared to the consensus estimate of $636.46 million. During the same quarter last year, the business posted $0.06 EPS. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, analysts expect Evolent Health to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Evolent Health Stock Performance

EVH opened at $24.20 on Thursday. The business’s 50-day moving average price is $28.17 and its two-hundred day moving average price is $25.20. Evolent Health has a 1 year low of $17.98 and a 1 year high of $35.00. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of -19.36 and a beta of 1.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08.

Insider Transactions at Evolent Health

In other news, COO Emily Ann Rafferty sold 8,861 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $265,830.00. Following the completion of the sale, the chief operating officer now owns 63,408 shares in the company, valued at $1,902,240. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the sale, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Emily Ann Rafferty sold 8,861 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $265,830.00. Following the completion of the sale, the chief operating officer now owns 63,408 shares of the company’s stock, valued at approximately $1,902,240. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 307,291 shares of company stock worth $9,290,385 over the last quarter. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JMP Securities lowered their target price on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Evolent Health in a research report on Tuesday, October 8th. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of Evolent Health in a report on Tuesday, July 30th. Finally, Citigroup reduced their price target on Evolent Health from $35.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $38.60.

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.