Insider Buying: Evolent Health, Inc. (NYSE:EVH) President Buys 11,040 Shares of Stock

Evolent Health, Inc. (NYSE:EVH - Get Free Report) President Daniel Joseph Mccarthy acquired 11,040 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $9.01 per share, with a total value of $99,470.40. Following the completion of the acquisition, the president now directly owns 389,004 shares of the company's stock, valued at approximately $3,504,926.04. This represents a 2.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Evolent Health Stock Up 0.3 %

Shares of Evolent Health stock traded up $0.03 on Thursday, hitting $9.51. 2,112,922 shares of the company traded hands, compared to its average volume of 2,076,186. Evolent Health, Inc. has a 12-month low of $8.35 and a 12-month high of $34.07. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.11 billion, a PE ratio of -11.59 and a beta of 1.49. The company has a 50-day moving average price of $10.26 and a 200 day moving average price of $17.23.

Evolent Health (NYSE:EVH - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.35). The firm had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. Sell-side analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

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Analyst Ratings Changes

EVH has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their target price on Evolent Health from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Tuesday, January 14th. JMP Securities reiterated a "market outperform" rating and issued a $12.00 target price on shares of Evolent Health in a report on Friday, February 14th. JPMorgan Chase & Co. reduced their target price on shares of Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Monday. Oppenheimer dropped their price target on Evolent Health from $28.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. Finally, Stephens reduced their price objective on Evolent Health from $16.00 to $12.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 21st. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $17.71.

Institutional Trading of Evolent Health

A number of institutional investors have recently added to or reduced their stakes in EVH. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Evolent Health during the 4th quarter valued at $26,000. R Squared Ltd acquired a new position in Evolent Health during the fourth quarter worth $31,000. AlphaQuest LLC raised its holdings in Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company's stock valued at $34,000 after buying an additional 3,031 shares in the last quarter. Covestor Ltd lifted its position in shares of Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company's stock worth $40,000 after buying an additional 826 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Evolent Health by 90.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company's stock worth $56,000 after acquiring an additional 2,358 shares in the last quarter.

About Evolent Health

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.