Evolent Health (NYSE:EVH) Trading Up 4.3% – What’s Next?

Shares of Evolent Health, Inc. (NYSE:EVH) shot up 4.3% during trading on Wednesday . The stock traded as high as $9.64 and last traded at $9.69. 112,344 shares were traded during mid-day trading, a decline of 96% from the average session volume of 2,509,879 shares. The stock had previously closed at $9.29.

Analyst Ratings Changes

Several research analysts recently issued reports on EVH shares. UBS Group cut 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. Canaccord Genuity Group cut their price target on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Royal Bank of Canada decreased their price objective on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 target price on shares of Evolent Health in a research note on Friday, February 21st. Finally, JMP Securities restated a “market outperform” rating and issued a $12.00 target price on shares of Evolent Health in a report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $17.64.

Evolent Health Stock Up 1.5 %

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -11.50 and a beta of 1.20. The firm has a 50 day moving average price of $9.69 and a two-hundred day moving average price of $13.58.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $650.92 million. On average, equities analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Seth Blackley acquired 55,225 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the purchase, the chief executive officer now directly owns 762,217 shares of the company’s stock, valued at approximately $6,867,575.17. This trade represents a 7.81 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Diane Holder bought 2,735 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $9.33 per share, with a total value of $25,517.55. Following the completion of the purchase, the director now directly owns 70,584 shares of the company’s stock, valued at approximately $658,548.72. This trade represents a 4.03 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 74,000 shares of company stock worth $666,315. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EVH. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Evolent Health in the fourth quarter worth $26,000. R Squared Ltd bought a new stake in shares of Evolent Health in the 4th quarter worth about $31,000. AlphaQuest LLC raised its stake in shares of Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock valued at $34,000 after purchasing an additional 3,031 shares in the last quarter. Parkside Financial Bank & Trust lifted its position 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 worth $56,000 after purchasing an additional 2,358 shares during the last quarter. Finally, AlphaCentric Advisors LLC acquired a new position in Evolent Health in the fourth quarter worth about $61,000.

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.