Evolent Health, Inc. (NYSE:EVH) Forecasted to Post Q4 2023 Earnings of $0.01 Per Share

Evolent Health, Inc. (NYSE:EVH) – Investment analysts at William Blair issued their Q4 2023 earnings estimates for Evolent Health in a research report issued on Thursday, November 16th. William Blair analyst R. Daniels expects that the technology company will post earnings per share of $0.01 for the quarter. The consensus estimate for Evolent Health’s current full-year earnings is $0.37 per share. William Blair also issued estimates for Evolent Health’s Q1 2024 earnings at $0.05 EPS, Q2 2024 earnings at $0.09 EPS, Q4 2024 earnings at $0.19 EPS and FY2024 earnings at $0.50 EPS.

Other equities analysts also recently issued reports about the stock. StockNews.com raised shares of Evolent Health to a “sell” rating in a research note on Monday, October 16th. Guggenheim reiterated a “buy” rating and set a $47.00 price target on shares of Evolent Health in a research report on Monday, August 14th. UBS Group started coverage on shares of Evolent Health in a research report on Monday, October 16th. They set a “buy” rating and a $46.00 price target for the company. Wedbush reiterated an “outperform” rating on shares of Evolent Health in a research report on Thursday, November 16th. Finally, Truist Financial dropped their price target on shares of Evolent Health from $36.00 to $34.00 and set a “hold” rating for the company in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.75.

Evolent Health Price Performance

Shares of EVH stock opened at $29.16 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s 50-day moving average is $26.92 and its two-hundred day moving average is $28.61. Evolent Health has a 12 month low of $23.33 and a 12 month high of $36.70. The company has a market capitalization of $3.35 billion, a PE ratio of -28.59 and a beta of 1.44.

Insiders Place Their Bets

In related news, President Daniel Joseph Mccarthy sold 11,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $30.00, for a total value of $330,000.00. Following the completion of the sale, the president now owns 198,333 shares in the company, valued at approximately $5,949,990. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Evolent Health

A number of large investors have recently added to or reduced their stakes in EVH. ICA Group Wealth Management LLC purchased a new position in shares of Evolent Health during the 4th quarter worth about $32,000. Strs Ohio purchased a new position in Evolent Health in the first quarter valued at approximately $51,000. Captrust Financial Advisors raised its holdings in Evolent Health by 254.4% in the second quarter. Captrust Financial Advisors now owns 1,758 shares of the technology company’s stock valued at $54,000 after buying an additional 1,262 shares during the period. Tower Research Capital LLC TRC raised its holdings in Evolent Health by 75.6% in the third quarter. Tower Research Capital LLC TRC now owns 3,777 shares of the technology company’s stock valued at $103,000 after buying an additional 1,626 shares during the period. Finally, West Tower Group LLC purchased a new position in Evolent Health in the second quarter valued at approximately $124,000.

Evolent Health Company Profile

Evolent Health, Inc, a healthcare company, through its subsidiary, Evolent Health LLC, offers clinical and administrative solutions to payers and providers in the United States. The company operates in two segments, Evolent Health Services and Clinical Solutions. The Evolent Health Services segment provides an integrated administrative and clinical platform for health plan administration and population health management.