Royce & Associates LP Purchases 326,200 Shares of Evolent Health, Inc. (NYSE:EVH)

Royce & Associates LP lifted its position in Evolent Health, Inc. (NYSE:EVH - Free Report) by 130.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 576,200 shares of the technology company's stock after acquiring an additional 326,200 shares during the period. Royce & Associates LP owned about 0.49% of Evolent Health worth $6,482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ironwood Investment Management LLC raised its stake in Evolent Health by 115.7% during the 4th quarter. Ironwood Investment Management LLC now owns 52,072 shares of the technology company's stock valued at $586,000 after purchasing an additional 27,927 shares during the period. Vestcor Inc acquired a new position in Evolent Health during the fourth quarter valued at $113,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Evolent Health in the 4th quarter worth about $794,000. Hollencrest Capital Management lifted its stake in Evolent Health by 26.3% in the 4th quarter. Hollencrest Capital Management now owns 36,000 shares of the technology company's stock worth $405,000 after acquiring an additional 7,500 shares in the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new stake in Evolent Health during the 4th quarter worth about $177,000.

Evolent Health Stock Performance

EVH stock traded down $0.35 during mid-day trading on Friday, reaching $9.61. 2,102,092 shares of the stock traded hands, compared to its average volume of 2,114,344. Evolent Health, Inc. has a 52 week low of $8.35 and a 52 week high of $33.63. 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 firm has a market capitalization of $1.12 billion, a PE ratio of -11.72 and a beta of 1.49. The business has a 50-day moving average of $9.93 and a two-hundred day moving average of $16.26.

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Evolent Health (NYSE:EVH - Get Free Report) last posted its quarterly earnings data 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). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The business had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. As a group, equities analysts predict that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EVH has been the subject of a number of research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price target on shares of Evolent Health in a research report on Friday, February 21st. Stephens cut their target price on shares of Evolent Health from $16.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 21st. Royal Bank of Canada lowered their price target on shares of Evolent Health from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Tuesday, January 14th. Piper Sandler reiterated an "overweight" rating and set a $16.00 price objective (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Finally, JMP Securities restated a "market outperform" rating and issued a $12.00 target price on shares of Evolent Health in a research note on Friday, February 14th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $17.71.

Insider Transactions at Evolent Health

In other Evolent Health news, President Daniel Joseph Mccarthy purchased 11,040 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $9.01 per share, for a total transaction of $99,470.40. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brendan B. Springstubb acquired 5,000 shares of Evolent Health stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $8.75 per share, with a total value of $43,750.00. Following the completion of the acquisition, the director now directly owns 11,842 shares in the company, valued at $103,617.50. This trade represents a 73.08 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 74,000 shares of company stock worth $666,315. 1.60% of the stock is currently owned by company insiders.

Evolent Health 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.