Daniel Joseph Mccarthy Purchases 11,040 Shares of Evolent Health, Inc. (NYSE:EVH) Stock

Evolent Health, Inc. (NYSE:EVH) President Daniel Joseph Mccarthy purchased 11,040 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were purchased at an average cost of $9.01 per share, with a total value of $99,470.40. Following the acquisition, the president now owns 389,004 shares in the company, valued at $3,504,926.04. This trade represents a 2.92 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Evolent Health Trading Up 0.6 %

NYSE EVH traded up $0.05 on Monday, hitting $9.04. The company’s stock had a trading volume of 643,570 shares, compared to its average volume of 2,054,103. The company’s 50-day moving average is $10.37 and its 200 day moving average is $17.61. The firm has a market cap of $1.05 billion, a PE ratio of -11.14 and a beta of 1.49. Evolent Health, Inc. has a 1-year low of $8.35 and a 1-year high of $34.51. 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 announced its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) 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%. As a group, analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EVH shares. Canaccord Genuity Group cut their target price on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Oppenheimer lowered their price target on Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a 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 on the stock in a research report on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and set a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. One 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 MarketBeat.com, Evolent Health has an average rating of “Buy” and an average price target of $17.79.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EVH. Wellington Management Group LLP boosted its stake in shares of Evolent Health by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after purchasing an additional 1,426,747 shares during the last quarter. Vanguard Group Inc. boosted its position in Evolent Health by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock valued at $125,676,000 after acquiring an additional 259,781 shares during the last quarter. Engaged Capital LLC grew its holdings in Evolent Health by 35.5% during the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock worth $60,804,000 after acquiring an additional 1,415,300 shares during the period. Cadian Capital Management LP acquired a new stake in Evolent Health during the 4th quarter worth about $58,781,000. Finally, Eventide Asset Management LLC raised its position in shares of Evolent Health by 1.7% in the 3rd quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock worth $107,580,000 after acquiring an additional 64,985 shares in the last quarter.

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.