Evolent Health, Inc. (NYSE:EVH) Director Brendan B. Springstubb Purchases 5,000 Shares of Stock

Evolent Health, Inc. (NYSE:EVH) Director Brendan B. Springstubb bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $8.75 per share, for a total transaction of $43,750.00. Following the completion of the purchase, the director now owns 11,842 shares in the company, valued at $103,617.50. This trade represents a 73.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Evolent Health Price Performance

Shares of Evolent Health stock traded up $0.21 during trading on Wednesday, reaching $8.76. The company’s stock had a trading volume of 3,355,823 shares, compared to its average volume of 2,529,815. The business has a 50 day moving average price of $10.50 and a 200-day moving average price of $18.01. Evolent Health, Inc. has a 12-month low of $8.35 and a 12-month high of $34.84. The company has a market capitalization of $1.02 billion, a P/E ratio of -10.68 and a beta of 1.45. 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 (NYSE:EVH) 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). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The firm had revenue of $646.54 million during the quarter, compared to analysts’ expectations of $650.92 million. As a group, sell-side analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming acquired a new stake in shares of Evolent Health in the fourth quarter worth approximately $95,000. Sea Cliff Partners Management LP acquired a new stake in shares of Evolent Health during the 4th quarter worth $9,338,000. Silvercrest Asset Management Group LLC increased its holdings in shares of Evolent Health by 37.3% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,371,053 shares of the technology company’s stock worth $15,424,000 after buying an additional 372,793 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in Evolent Health in the fourth quarter valued at $988,000. Finally, Redwood Investment Management LLC acquired a new position in Evolent Health in the fourth quarter valued at $468,000.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EVH. BTIG Research decreased their price objective 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. Oppenheimer cut their target price on Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. UBS Group decreased their target price 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. JMP Securities reiterated a “market outperform” rating and issued a $12.00 price objective on shares of Evolent Health in a research note on Friday, February 14th. Finally, Truist Financial lowered their target price on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Evolent Health has an average rating of “Buy” and an average target price of $17.79.

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.