FY2024 EPS Estimates for Evolent Health Lowered by Analyst

Evolent Health, Inc. (NYSE:EVH) – William Blair cut their FY2024 earnings estimates for Evolent Health in a research report issued 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 previous forecast 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.

Several other analysts have also recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of Evolent Health in a report on Friday, January 10th. They issued a “buy” rating and a $15.00 price target on the stock. Truist Financial cut their price target 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. Royal Bank of Canada cut their price target on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. Stephens dropped 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. Finally, Citigroup dropped their target price on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Evolent Health currently has a consensus rating of “Buy” and a consensus price target of $18.38.

Evolent Health Trading Up 0.1 %

EVH opened at $10.44 on Thursday. The stock has a market capitalization of $1.22 billion, a PE ratio of -11.47 and a beta of 1.45. The firm’s fifty day moving average price is $11.36 and its 200 day moving average price is $20.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. Evolent Health has a 12-month low of $9.74 and a 12-month high of $35.00.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, November 7th. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.38). The firm had revenue of $621.40 million during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $0.19 earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EVH. Marshall Wace LLP purchased a new position in shares of Evolent Health in the second quarter worth approximately $1,231,000. Squarepoint Ops LLC acquired a new stake in shares of Evolent Health during the second quarter worth approximately $439,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Evolent Health by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 67,499 shares of the technology company’s stock worth $1,291,000 after purchasing an additional 4,572 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Evolent Health by 387.6% during the second quarter. Mackenzie Financial Corp now owns 34,783 shares of the technology company’s stock worth $665,000 after purchasing an additional 27,650 shares during the period. Finally, Ascent Group LLC boosted its holdings in shares of Evolent Health by 28.2% during the second quarter. Ascent Group LLC now owns 26,065 shares of the technology company’s stock worth $498,000 after purchasing an additional 5,735 shares during the period.

Evolent Health Company Profile

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.