5 High Growth Healthcare Stocks to Buy

4. Evolent Health, Inc. (NYSE:EVH)

Number of Hedge Fund Holders: 32

Healthcare solutions provider Evolent Health, Inc. (NYSE:EVH) is one of the high growth healthcare stocks right now. During the third quarter Evolent Health, Inc. (NYSE:EVH)’s revenue increased by 58.5% on a YoY basis to reach $352.6 million, missing estimates by $4.18 million. Adjusted EPS in the quarter came in at $0.59, beating estimates by $0.49.

Evolent Health, Inc. (NYSE:EVH) said that it expects its Q4 revenue in the range of $361 million to $381 million, versus the consensus estimate of $376.16 million. Adjusted EBITDA was expected in the range of $24 million to $29 million.

In January Evolent Health, Inc. (NYSE:EVH) jumped after the company announced expansion of its partnership with Humana in oncology.

Carillon Eagle Small Cap Growth Fund made the following comment about Evolent Health, Inc. (NYSE:EVH) in its Q4 2022 investor letter:

“Evolent Health, Inc. (NYSE:EVH) provides a platform of technology-enabled administrative and clinical management services to provider networks and managed care organizations to help them manage the care of patients under value-based care (VBC) arrangements. Unfortunately in the quarter, the company missed revenue estimates due to a retroactive adjustment resulting from the way that the Centers for Medicare and Medicaid Services calculates savings for companies participating in gainsharing pilot programs with them. While this was disappointing, later in the quarter the company announced an accretive acquisition of a specialty benefit management organization that focuses on managing costs and quality in radiology, musculoskeletal medicine, physical medicine, and genetics. The announcement of this acquisition was favorably received by investors, and when combined with recent impressive new client additions, sets the company up for what should be a strong 2023.”