Insider Buying: Evolent Health, Inc. (NYSE:EVH) Director Buys 5,000 Shares of Stock

Evolent Health, Inc. (NYSE:EVH - Get Free Report) Director Brendan B. Springstubb purchased 5,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $8.75 per share, with a total value of $43,750.00. Following the acquisition, the director now owns 11,842 shares in the company, valued at $103,617.50. This trade represents a 73.08 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Evolent Health Stock Down 3.5 %

NYSE EVH traded down $0.33 on Friday, hitting $8.99. 2,533,320 shares of the company were exchanged, compared to its average volume of 2,562,787. The company has a market cap of $1.05 billion, a PE ratio of -10.96 and a beta of 1.49. Evolent Health, Inc. has a 12 month low of $8.35 and a 12 month high of $34.84. The stock has a fifty day moving average of $10.37 and a 200-day moving average of $17.68. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58.

Evolent Health (NYSE:EVH - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates 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, analysts forecast that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

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Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Stephens dropped their price objective on shares of 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. Royal Bank of Canada dropped their price objective on shares of Evolent Health from $20.00 to $17.00 and set an "outperform" rating for the company in a research note on Tuesday, January 14th. Oppenheimer decreased their price target on shares of Evolent Health from $28.00 to $18.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Truist Financial decreased their price target on shares of Evolent Health from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, January 22nd. Finally, Barclays decreased their price target on shares of Evolent Health from $39.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. 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 presently has a consensus rating of "Buy" and an average price target of $17.79.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EVH. US Bancorp DE increased its holdings in Evolent Health by 180.3% during the third quarter. US Bancorp DE now owns 6,579 shares of the technology company's stock worth $186,000 after buying an additional 4,232 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Evolent Health by 268.0% in the third quarter. Principal Financial Group Inc. now owns 57,382 shares of the technology company's stock worth $1,623,000 after acquiring an additional 41,788 shares during the period. Atria Investments Inc bought a new stake in Evolent Health during the third quarter valued at $208,000. Covestor Ltd raised its position in Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company's stock valued at $40,000 after purchasing an additional 826 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Evolent Health during the third quarter valued at about $1,774,000.

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.