Raymond James Financial Inc. Acquires New Shares in Evolent Health, Inc. (NYSE:EVH)

Raymond James Financial Inc. purchased a new position in Evolent Health, Inc. (NYSE:EVH - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 225,995 shares of the technology company's stock, valued at approximately $2,542,000. Raymond James Financial Inc. owned about 0.19% of Evolent Health as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of EVH. R Squared Ltd acquired a new stake in Evolent Health during the fourth quarter worth about $31,000. Parkside Financial Bank & Trust grew its holdings in shares of Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company's stock valued at $56,000 after purchasing an additional 2,358 shares during the last quarter. AlphaCentric Advisors LLC acquired a new stake in shares of Evolent Health during the 4th quarter worth approximately $61,000. KBC Group NV lifted its holdings in shares of Evolent Health by 124.6% in the 4th quarter. KBC Group NV now owns 6,741 shares of the technology company's stock worth $76,000 after purchasing an additional 3,739 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new position in Evolent Health during the 4th quarter valued at approximately $134,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EVH. Stephens dropped their target price on Evolent Health from $16.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 21st. JMP Securities reiterated a "market outperform" rating and issued a $12.00 price objective on shares of Evolent Health in a research report on Friday, February 14th. JPMorgan Chase & Co. reduced their target price on shares of Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Royal Bank of Canada dropped their price target on shares of Evolent Health from $20.00 to $17.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 14th. Finally, UBS Group reduced their price objective on Evolent Health from $27.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. One research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $17.71.

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Evolent Health Price Performance

Shares of EVH traded up $0.40 during midday trading on Wednesday, reaching $10.08. The stock had a trading volume of 2,009,665 shares, compared to its average volume of 2,220,500. The firm's 50 day moving average price is $9.79 and its 200-day moving average price is $15.01. Evolent Health, Inc. has a 52 week low of $8.35 and a 52 week high of $33.63. The company has a market capitalization of $1.18 billion, a P/E ratio of -12.29 and a beta of 1.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

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 the consensus estimate of $0.38 by ($0.35). The company had revenue of $646.54 million for the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. On average, analysts forecast that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Seth Blackley purchased 55,225 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price 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. The trade was a 7.81 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brendan B. Springstubb acquired 5,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the completion of the transaction, the director now owns 11,842 shares in the company, valued at approximately $103,617.50. This represents a 73.08 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 74,000 shares of company stock worth $666,315. Company insiders own 1.60% of the company's stock.

Evolent Health 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.