Evolent Health, Inc. (NYSE:EVH) CEO Seth Blackley Acquires 55,225 Shares

Evolent Health, Inc. (NYSE:EVH) CEO Seth Blackley purchased 55,225 shares of Evolent Health stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $9.01 per share, for a total transaction of $497,577.25. Following the purchase, the chief executive officer now directly owns 762,217 shares in the company, valued at $6,867,575.17. This trade represents a 7.81 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Evolent Health Stock Performance

Shares of NYSE:EVH traded up $0.05 during trading on Monday, hitting $9.04. The stock had a trading volume of 643,570 shares, compared to its average volume of 2,054,103. 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, Inc. has a 12-month low of $8.35 and a 12-month high of $34.51. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -11.14 and a beta of 1.49. The stock 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 posted its earnings results 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 for the quarter, compared to analysts’ expectations of $650.92 million. On average, equities research analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

A number of institutional investors and hedge funds have recently bought and sold shares of EVH. Cadian Capital Management LP purchased a new stake in shares of Evolent Health in the 4th quarter valued at approximately $58,781,000. Wellington Management Group LLP grew its stake in shares of Evolent Health by 12.8% during the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after purchasing an additional 1,426,747 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Evolent Health by 1,948.5% in 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 last quarter. Engaged Capital LLC raised its position 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 acquiring an additional 1,415,300 shares in the last quarter. Finally, Boston Partners raised its holdings in Evolent Health by 92.0% during 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 in the last quarter.

Wall Street Analysts Forecast Growth

EVH has been the subject of a number of research reports. Canaccord Genuity Group lowered their price objective on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Piper Sandler restated an “overweight” rating and set a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. JMP Securities reaffirmed a “market outperform” rating and set a $12.00 target price on shares of Evolent Health in a research report on Friday, February 14th. JPMorgan Chase & Co. reduced their price target on Evolent Health from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, BTIG Research dropped their price objective on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. One investment 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’s stock. According to data from MarketBeat, the stock 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.