Evolent Health, Inc. (NYSE:EVH) CEO Acquires $497,577.25 in Stock

Evolent Health, Inc. (NYSE:EVH) CEO Seth Blackley purchased 55,225 shares of Evolent Health stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $9.01 per share, for a total transaction of $497,577.25. Following the transaction, the chief executive officer now directly owns 762,217 shares in the company, valued at $6,867,575.17. This represents a 7.81 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Evolent Health Trading Up 0.7 %

NYSE:EVH opened at $9.06 on Tuesday. The stock’s 50 day moving average price is $10.33 and its 200 day moving average price is $17.45. The company has a market capitalization of $1.06 billion, a PE 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, Inc. has a 52-week low of $8.35 and a 52-week high of $34.51.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The firm had revenue of $646.54 million for the quarter, compared to analysts’ expectations 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, research analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.

Institutional Trading of Evolent Health

Hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP acquired a new stake in Evolent Health during the 3rd quarter worth approximately $7,070,000. Foundry Partners LLC acquired a new stake in Evolent Health during the 3rd quarter worth approximately $10,042,000. Salem Investment Counselors Inc. lifted its position in Evolent Health by 53.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock worth $3,939,000 after acquiring an additional 121,369 shares during the period. Nordea Investment Management AB lifted its position in Evolent Health by 7.0% during the 4th quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock worth $1,469,000 after acquiring an additional 8,552 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in Evolent Health by 90.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock worth $9,036,000 after acquiring an additional 380,790 shares during the period.

Analyst Ratings Changes

A number of research firms have issued reports on EVH. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 price target (down previously from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. JPMorgan Chase & Co. reduced their price target on Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday. Citigroup reduced their price target on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Truist Financial reduced their price target on Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Finally, Stephens reduced their price target 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. One investment 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. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $17.71.

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.