Equities analysts forecast that Evolent Health Inc (NYSE:EVH) will report $140.96 million in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Evolent Health’s earnings, with the lowest sales estimate coming in at $140.21 million and the highest estimate coming in at $141.68 million. Evolent Health reported sales of $106.77 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 32%. The firm is expected to report its next earnings results on Tuesday, May 8th.
On average, analysts expect that Evolent Health will report full year sales of $140.96 million for the current year, with estimates ranging from $575.20 million to $584.11 million. For the next financial year, analysts expect that the company will post sales of $670.85 million per share, with estimates ranging from $653.97 million to $716.22 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Evolent Health.
Several research analysts have recently weighed in on EVH shares. Jefferies Group set a $22.00 price objective on Evolent Health and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $30.00 price objective on shares of Evolent Health in a research report on Sunday, December 3rd. Wells Fargo & Co reduced their price objective on Evolent Health from $27.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Zacks Investment Research cut Evolent Health from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Canaccord Genuity dropped their target price on Evolent Health from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating and fourteen have issued a buy rating to the stock. Evolent Health has a consensus rating of “Buy” and an average price target of $25.60.
In other news, Director Unitedhealth Group Inc sold 3,040,000 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $13.70, for a total value of $41,648,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.79% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in EVH. Bank of New York Mellon Corp boosted its holdings in Evolent Health by 508.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,439,621 shares of the technology company’s stock worth $42,307,000 after purchasing an additional 2,874,211 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Evolent Health by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,465,019 shares of the technology company’s stock valued at $136,236,000 after buying an additional 2,026,893 shares during the last quarter. Standard Life Aberdeen plc purchased a new position in shares of Evolent Health during the 4th quarter valued at approximately $13,380,000. Millennium Management LLC boosted its stake in shares of Evolent Health by 61.6% during the 4th quarter. Millennium Management LLC now owns 2,816,786 shares of the technology company’s stock valued at $34,646,000 after buying an additional 1,073,282 shares during the last quarter. Finally, Carillon Tower Advisers Inc. purchased a new position in shares of Evolent Health during the 4th quarter valued at approximately $11,630,000. Institutional investors and hedge funds own 99.96% of the company’s stock.
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About Evolent Health
Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.
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