Healthcare solutions company Evolent Health (NYSE:EVH) will be reporting results this Thursday before the bell. Here’s what investors should know.
Evolent Health met analysts’ revenue expectations last quarter, reporting revenues of $468.7 million, down 27.5% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and full-year revenue guidance exceeding analysts’ expectations.
Is Evolent Health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Evolent Health’s revenue to grow 10.2% year on year, a reversal from the 24.4% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Evolent Health has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Evolent Health’s peers in the healthcare technology segment, only Omnicell has reported results so far. It exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 14.9%. The stock traded up 14.5% on the results.
Read our full analysis of Omnicell’s earnings results here.There has been positive sentiment among investors in the healthcare technology segment, with share prices up 6.5% on average over the last month. Evolent Health is up 68.8% during the same time and is heading into earnings with an average analyst price target of $5.18 (compared to the current share price of $3.90).
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