Evolent Health, Inc. (NYSE:EVH) Shares Bought by Ironwood Investment Management LLC

Ironwood Investment Management LLC increased its position in Evolent Health, Inc. (NYSE:EVH - Free Report) by 115.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,072 shares of the technology company's stock after buying an additional 27,927 shares during the period. Ironwood Investment Management LLC's holdings in Evolent Health were worth $586,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of EVH. Wellington Management Group LLP raised its position in shares of Evolent Health by 12.8% in the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company's stock valued at $356,200,000 after buying an additional 1,426,747 shares during the last quarter. Point72 Asset Management L.P. increased its position in Evolent Health by 1,948.5% during the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company's stock worth $42,289,000 after purchasing an additional 1,422,385 shares during the last quarter. Bellevue Group AG increased its position in Evolent Health by 59.9% during the third quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company's stock worth $75,509,000 after purchasing an additional 1,000,215 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Evolent Health by 90.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company's stock worth $9,036,000 after purchasing an additional 380,790 shares during the last quarter. Finally, Foundry Partners LLC acquired a new position in Evolent Health during the third quarter worth approximately $10,042,000.

Remove Ads

Analyst Upgrades and Downgrades

Several brokerages recently commented on EVH. BTIG Research dropped their price target on shares of Evolent Health from $36.00 to $29.00 and set a "buy" rating for the company in a research report on Tuesday, December 3rd. Royal Bank of Canada dropped their price target on shares of Evolent Health from $20.00 to $17.00 and set an "outperform" rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price target on shares of Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Piper Sandler reiterated an "overweight" rating and set a $16.00 price objective (down from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Finally, Canaccord Genuity Group decreased 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 note on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Evolent Health has an average rating of "Buy" and a consensus target price of $17.71.

Insider Activity at Evolent Health

In related news, Director Brendan B. Springstubb purchased 5,000 shares of the business's stock in a transaction that occurred on 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 completion of the acquisition, the director now directly owns 11,842 shares of the company's stock, valued at approximately $103,617.50. The trade was a 73.08 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Seth Blackley bought 55,225 shares of the company's stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the acquisition, the chief executive officer now directly owns 762,217 shares of the company's stock, valued at $6,867,575.17. This trade represents a 7.81 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 74,000 shares of company stock valued at $666,315 over the last ninety days. Corporate insiders own 1.60% of the company's stock.

Evolent Health Stock Down 0.1 %

Shares of EVH stock traded down $0.02 on Wednesday, hitting $10.13. The stock had a trading volume of 2,132,683 shares, compared to its average volume of 2,101,667. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -12.35 and a beta of 1.49. The stock's 50 day moving average is $10.09 and its 200-day moving average is $16.51. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. Evolent Health, Inc. has a 52-week low of $8.35 and a 52-week high of $33.63.

Evolent Health (NYSE:EVH - Get Free Report) last announced 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 analysts' expectations of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. As a group, research analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

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.