FY2024 EPS Estimates for Evolent Health Boosted by Analyst

Evolent Health, Inc. (NYSE:EVH) – Analysts at William Blair boosted their FY2024 earnings estimates for Evolent Health in a research report issued to clients and investors on Monday, January 13th. William Blair analyst R. Daniels now expects that the technology company will earn $0.23 per share for the year, up from their previous forecast of $0.19. The consensus estimate for Evolent Health’s current full-year earnings is $0.24 per share. William Blair also issued estimates for Evolent Health’s Q4 2024 earnings at ($0.05) EPS and FY2025 earnings at $0.48 EPS.

A number of other equities research analysts have also recently issued reports on the company. Stephens cut Evolent Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. Royal Bank of Canada decreased their price objective on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday. JMP Securities dropped their target price on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating on the stock in a report on Friday, January 10th. BTIG Research lowered their price target on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Finally, KeyCorp initiated coverage on Evolent Health in a research note on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $21.92.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $10.02 on Thursday. The business’s 50-day simple moving average is $11.79 and its 200-day simple moving average is $20.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. Evolent Health has a 52 week low of $9.88 and a 52 week high of $35.00. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -11.01 and a beta of 1.45.

Institutional Investors Weigh In On Evolent Health

Several institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers increased its stake in Evolent Health by 8.3% in the second quarter. Rhumbline Advisers now owns 180,059 shares of the technology company’s stock valued at $3,443,000 after acquiring an additional 13,867 shares during the period. Quest Partners LLC acquired a new stake in Evolent Health during the second quarter valued at approximately $87,000. Federated Hermes Inc. bought a new stake in shares of Evolent Health in the 2nd quarter valued at approximately $6,273,000. Dimensional Fund Advisors LP raised its holdings in shares of Evolent Health by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company’s stock worth $45,286,000 after buying an additional 121,770 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of Evolent Health during the 2nd quarter worth approximately $416,000.

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.