Evolent Health (EVH) Set to Announce Earnings on Thursday

Evolent Health (NYSE:EVH) is scheduled to be releasing its earnings data after the market closes on Thursday, November 7th. Analysts expect Evolent Health to post 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.Individual interested in listening to the company’s earnings conference call can do so using this link.

Evolent Health (NYSE:EVH) last released its 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. The business had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. Evolent Health’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share. 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

Shares of EVH opened at $23.56 on Wednesday. The firm’s fifty day simple moving average is $27.64 and its two-hundred day simple moving average is $25.03. Evolent Health has a 12 month low of $17.98 and a 12 month high of $35.00. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $2.74 billion, a P/E ratio of -25.06 and a beta of 1.58.

Insider Activity

In related news, CEO Seth Blackley sold 187,904 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the sale, the chief executive officer now owns 411,924 shares in the company, valued at $12,357,720. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, General Counsel Jonathan Weinberg sold 42,140 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total value of $1,314,768.00. Following the completion of the sale, the general counsel now owns 167,027 shares in the company, valued at $5,211,242.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Seth Blackley sold 187,904 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the completion of the sale, the chief executive officer now owns 411,924 shares of the company’s stock, valued at approximately $12,357,720. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 307,291 shares of company stock worth $9,290,385 over the last three months. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Truist Financial reaffirmed a “buy” rating and set a $33.00 target price on shares of Evolent Health in a research note on Tuesday, August 27th. JMP Securities reduced their price objective on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Evolent Health in a report on Tuesday, October 8th. Finally, KeyCorp began coverage on shares of Evolent Health in a report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective on the stock. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $38.60.

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.