Evolent Health, Inc. (NYSE:EVH - Get Free Report) shares traded up 4.9% on Thursday after an insider bought additional shares in the company. The stock traded as high as $9.11 and last traded at $9.17. 335,717 shares were traded during mid-day trading, a decline of 87% from the average session volume of 2,497,134 shares. The stock had previously closed at $8.74.
Specifically, Director Brendan B. Springstubb bought 5,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $8.75 per share, with a total value of $43,750.00. Following the completion of the purchase, the director now owns 11,842 shares of the company's stock, valued at $103,617.50. This represents a 73.08 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Analysts Set New Price Targets
Several research firms have recently issued reports on EVH. Oppenheimer decreased their target price on Evolent Health from $28.00 to $18.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. BTIG Research decreased their price objective on shares of Evolent Health from $36.00 to $29.00 and set a "buy" rating for the company in a report on Tuesday, December 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 target price on shares of Evolent Health in a report on Friday, February 21st. Piper Sandler reissued an "overweight" rating and set a $16.00 price target (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. Finally, Canaccord Genuity Group lowered their price objective on shares of Evolent Health from $23.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Evolent Health currently has a consensus rating of "Buy" and a consensus price target of $17.71.
Get Our Latest Stock Analysis on EVH
Evolent Health Stock Performance
The stock has a fifty day moving average of $10.33 and a 200-day moving average of $17.45. The firm has a market capitalization of $1.06 billion, a P/E ratio of -11.04 and a beta of 1.49. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.
Evolent Health (NYSE:EVH - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.35). The business had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. On average, research analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.
Hedge Funds Weigh In On Evolent Health
A number of large investors have recently made changes to their positions in EVH. Cadian Capital Management LP acquired a new position in Evolent Health during the fourth quarter valued at approximately $58,781,000. Wellington Management Group LLP lifted its position in shares of Evolent Health by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company's stock worth $356,200,000 after purchasing an additional 1,426,747 shares during the period. Point72 Asset Management L.P. raised its position in shares of Evolent Health by 1,948.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company's stock worth $42,289,000 after acquiring an additional 1,422,385 shares in the last quarter. Engaged Capital LLC boosted its position in shares of Evolent Health by 35.5% during the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock valued at $60,804,000 after purchasing an additional 1,415,300 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Evolent Health by 92.0% during the 4th quarter. Boston Partners now owns 2,444,006 shares of the technology company's stock valued at $27,097,000 after acquiring an additional 1,171,304 shares during the period.
About Evolent Health
(
Get Free Report)
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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