Friedenthal Financial Buys New Stake in Evolent Health, Inc. (NYSE:EVH)

Friedenthal Financial purchased a new position in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 25,549 shares of the technology company's stock, valued at approximately $723,000.

Several other hedge funds have also bought and sold shares of EVH. Vanguard Group Inc. lifted its stake in Evolent Health by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 10,821,331 shares of the technology company's stock valued at $357,429,000 after acquiring an additional 226,691 shares in the last quarter. NBC Securities Inc. lifted its stake in Evolent Health by 16.6% during the 1st quarter. NBC Securities Inc. now owns 2,461 shares of the technology company's stock valued at $81,000 after acquiring an additional 350 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Evolent Health during the 1st quarter valued at $88,000. Salem Investment Counselors Inc. lifted its stake in Evolent Health by 1,223.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 120,121 shares of the technology company's stock valued at $3,939,000 after acquiring an additional 111,046 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its stake in Evolent Health by 78.3% during the 1st quarter. Hodges Capital Management Inc. now owns 474,746 shares of the technology company's stock valued at $15,567,000 after acquiring an additional 208,534 shares in the last quarter.

Evolent Health Trading Down 4.1 %

Shares of Evolent Health stock traded down $1.02 on Friday, reaching $23.94. The company had a trading volume of 2,357,770 shares, compared to its average volume of 1,616,776. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -19.15 and a beta of 1.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08. The firm's 50-day moving average price is $28.77 and its two-hundred day moving average price is $25.59. Evolent Health, Inc. has a 1 year low of $17.98 and a 1 year high of $35.00.

Evolent Health (NYSE:EVH - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.09. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The business had revenue of $647.10 million for the quarter, compared to the consensus estimate of $636.46 million. During the same period last year, the business posted $0.06 EPS. The business's revenue was up 37.9% compared to the same quarter last year. As a group, research analysts predict that Evolent Health, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Evolent Health

In related news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the transaction, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the sale, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Emily Ann Rafferty sold 8,861 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $265,830.00. Following the completion of the sale, the chief operating officer now owns 63,408 shares in the company, valued at approximately $1,902,240. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 307,291 shares of company stock valued at $9,290,385 over the last quarter. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

EVH has been the topic of several recent analyst reports. Stephens restated an "overweight" rating and set a $42.00 price objective on shares of Evolent Health in a research note on Tuesday, July 30th. KeyCorp began coverage on Evolent Health in a research note on Friday, October 11th. They set an "overweight" rating and a $35.00 target price on the stock. JMP Securities lowered their target price on Evolent Health from $34.00 to $31.00 and set a "market outperform" rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada reiterated an "outperform" rating and set a $42.00 target price on shares of Evolent Health in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on Evolent Health from $36.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, August 19th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $39.30.

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.