Evolent Health (NYSE:EVH) Sees Strong Trading Volume - Still a Buy?

Shares of Evolent Health, Inc. (NYSE:EVH - Get Free Report) saw unusually-high trading volume on Monday . Approximately 1,930,984 shares traded hands during mid-day trading, an increase of 13% from the previous session's volume of 1,707,108 shares.The stock last traded at $14.44 and had previously closed at $13.36.

Analyst Ratings Changes

A number of research firms have recently commented on EVH. JPMorgan Chase & Co. boosted their price target on shares of Evolent Health from $36.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, August 19th. Barclays reduced their price objective on shares of Evolent Health from $39.00 to $19.00 and set an "overweight" rating for the company in a research note on Monday. Oppenheimer cut their price target on shares of Evolent Health from $45.00 to $34.00 and set an "outperform" rating for the company in a research note on Friday. Royal Bank of Canada reissued an "outperform" rating and set a $42.00 price target on shares of Evolent Health in a research note on Tuesday, October 8th. Finally, KeyCorp began coverage on Evolent Health in a research note on Friday, October 11th. They set an "overweight" rating and a $35.00 price objective for the company. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Evolent Health has an average rating of "Buy" and a consensus price target of $32.90.

Evolent Health Trading Up 10.9 %

The company's 50-day simple moving average is $26.84 and its 200 day simple moving average is $24.80. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.72 billion, a PE ratio of -16.09 and a beta of 1.58.

Evolent Health (NYSE:EVH - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.21 by $0.09. Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.27%. The company had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. During the same period in the prior year, the company earned $0.06 earnings per share. The firm's revenue was up 37.9% on a year-over-year basis. As a group, sell-side analysts expect that Evolent Health, Inc. will post 0.84 EPS for the current year.

Insider Transactions at Evolent Health

In other news, General Counsel Jonathan Weinberg sold 42,140 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the sale, the general counsel now owns 167,027 shares of the company's stock, valued at approximately $5,211,242.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Jonathan Weinberg sold 42,140 shares of the business's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total value of $1,314,768.00. Following the transaction, the general counsel now owns 167,027 shares in the company, valued at $5,211,242.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Emily Ann Rafferty sold 8,861 shares of the company's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $265,830.00. Following the transaction, the chief operating officer now directly owns 63,408 shares in the company, valued at $1,902,240. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 307,291 shares of company stock valued at $9,290,385. Corporate insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Evolent Health

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Evolent Health by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company's stock worth $357,905,000 after purchasing an additional 93,739 shares in the last quarter. RA Capital Management L.P. lifted its stake in shares of Evolent Health by 125.0% in the 1st quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company's stock valued at $188,088,000 after purchasing an additional 3,187,000 shares during the last quarter. William Blair Investment Management LLC lifted its position in Evolent Health by 35.2% during the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company's stock worth $96,098,000 after acquiring an additional 1,308,376 shares during the last quarter. Engaged Capital LLC grew its position in Evolent Health by 26.1% in the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company's stock worth $78,611,000 after purchasing an additional 850,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Evolent Health by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company's stock worth $45,286,000 after purchasing an additional 121,770 shares in the last quarter.

Evolent Health Company 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.

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