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

Evolent Health, Inc. (NYSE:EVH) President Daniel Joseph Mccarthy acquired 11,040 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 $99,470.40. Following the purchase, the president now owns 389,004 shares in the company, valued at approximately $3,504,926.04. This represents a 2.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Evolent Health Stock Performance

EVH stock traded up $0.05 during trading hours on Monday, hitting $9.04. 643,570 shares of the stock were exchanged, compared to its average volume of 2,054,103. Evolent Health, Inc. has a 12 month low of $8.35 and a 12 month high of $34.51. 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 $1.05 billion, a P/E ratio of -11.14 and a beta of 1.49. The company has a 50-day simple moving average of $10.37 and a two-hundred day simple moving average of $17.61.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The business 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.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $16.00 target price (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Citigroup lowered their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. UBS Group cut their target price on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Truist Financial lowered 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, Canaccord Genuity Group cut their price objective on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. One investment 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. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $17.79.

Institutional Investors Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cadian Capital Management LP acquired a new stake in Evolent Health during the fourth quarter worth approximately $58,781,000. Wellington Management Group LLP lifted its position in shares of Evolent Health by 12.8% during 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 acquiring an additional 1,426,747 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Evolent Health by 1,948.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after acquiring an additional 1,422,385 shares during the period. Engaged Capital LLC grew its holdings in shares of 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 purchasing an additional 1,415,300 shares in the last quarter. Finally, Boston Partners increased its position in shares of Evolent Health by 92.0% in the fourth quarter. Boston Partners now owns 2,444,006 shares of the technology company’s stock worth $27,097,000 after purchasing an additional 1,171,304 shares during the period.

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.