Evolent Health, Inc EVH stock is trading lower in reaction to Elevance Health's mixed earnings and softer guidance. Large managed care organizations (MCOs) seem to be facing pressure regarding Medicaid utilization, while outdated data often determine the premiums they receive from states, William Blair noted. This situation created a disparity between payments and trends in medical expenses following the completion of the redeterminations process. However, this issue is anticipated to be temporary as MCOs collaborate with state partners to recalibrate their pricing. "Last, we believe Evolent's services remain a compelling value proposition given continued cost pressures facing health plans on Medicare Advantage and Medicaid lines, presenting a compelling growth setup for coming years," William Blair analyst wrote.