Evolent Health (NYSE:EVH) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Evolent Health (NYSE:EVH) posted its earnings results on Tuesday. The technology company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02, FiscalAI reports. Evolent Health had a positive return on equity of 1.79% and a negative net margin of 6.24%.

Evolent Health Price Performance

Shares of EVH stock traded down $0.22 during midday trading on Tuesday, reaching $2.56. 5,113,008 shares of the company traded hands, compared to its average volume of 2,929,448. The firm’s 50 day simple moving average is $3.57 and its two-hundred day simple moving average is $5.92. The firm has a market cap of $285.14 million, a PE ratio of -1.62 and a beta of 0.27. Evolent Health has a 1-year low of $2.52 and a 1-year high of $12.06. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.33 and a quick ratio of 1.33.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group lowered their target price on shares of Evolent Health from $16.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. JPMorgan Chase & Co. lowered their price objective on shares of Evolent Health from $13.00 to $7.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Citigroup reduced their target price on shares of Evolent Health from $9.50 to $6.00 and set a “buy” rating for the company in a report on Friday, January 9th. BTIG Research lowered their price target on Evolent Health from $16.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Evolent Health in a research report on Monday, December 29th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Hedge Funds Weigh In On Evolent Health

Several hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Evolent Health by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock valued at $1,217,000 after purchasing an additional 3,572 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Evolent Health by 4,000.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock valued at $35,000 after buying an additional 4,000 shares during the last quarter. Strs Ohio purchased a new position in Evolent Health during the first quarter worth $47,000. Headlands Technologies LLC acquired a new position in shares of Evolent Health in the second quarter worth $58,000. Finally, Osaic Holdings Inc. boosted its stake in shares of Evolent Health by 99.2% during the second quarter. Osaic Holdings Inc. now owns 11,119 shares of the technology company’s stock valued at $125,000 after acquiring an additional 5,537 shares during the last quarter.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.