Evolent Health (NYSE:EVH) Sees Unusually-High Trading Volume – Here’s Why

Evolent Health, Inc. (NYSE:EVH) shares saw unusually-strong trading volume on Monday . Approximately 1,930,984 shares changed hands during trading, an increase of 13% from the previous session’s volume of 1,707,108 shares.The stock last traded at $14.44 and had previously closed at $13.36.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EVH. JPMorgan Chase & Co. raised their price objective on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, August 19th. Citigroup reduced their price target on Evolent Health from $35.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Barclays dropped their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Evolent Health in a research note on Tuesday, October 8th. Finally, JMP Securities cut their price target on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $32.90.

Evolent Health Trading Up 10.9 %

The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.72 billion, a PE ratio of -16.09 and a beta of 1.58. The stock has a 50 day moving average price of $26.84 and a 200-day moving average price of $24.80.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.21 by $0.09. Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.27%. The business had revenue of $647.10 million during the quarter, compared to analyst estimates of $636.46 million. During the same quarter last year, the business earned $0.06 earnings per share. Evolent Health’s quarterly revenue was up 37.9% compared to the same quarter last year. Sell-side analysts expect that Evolent Health, Inc. will post 0.84 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Emily Ann Rafferty sold 8,861 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $265,830.00. Following the sale, the chief operating officer now directly owns 63,408 shares in the company, valued at approximately $1,902,240. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total value of $1,314,768.00. Following the completion of the sale, the general counsel now owns 167,027 shares in the company, valued at approximately $5,211,242.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Emily Ann Rafferty sold 8,861 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $265,830.00. Following the sale, the chief operating officer now owns 63,408 shares of the company’s stock, valued at approximately $1,902,240. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 307,291 shares of company stock valued at $9,290,385 over the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Evolent Health

A number of institutional investors have recently added to or reduced their stakes in EVH. Quarry LP purchased a new stake in shares of Evolent Health during the second quarter valued at about $32,000. Covestor Ltd lifted its position in Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after acquiring an additional 826 shares during the last quarter. GAMMA Investing LLC boosted its stake in Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after acquiring an additional 1,556 shares in the last quarter. Headlands Technologies LLC purchased a new position in Evolent Health in the first quarter worth $46,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Evolent Health during the second quarter worth $61,000.

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.