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

Evolent Health, Inc. (NYSE:EVH) Director Brendan B. Springstubb acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased 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 directly owns 11,842 shares of the company’s stock, valued at $103,617.50. The trade was a 73.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Evolent Health Trading Up 2.4 %

EVH opened at $8.76 on Thursday. Evolent Health, Inc. has a 1-year low of $8.35 and a 1-year high of $34.84. 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 company has a market cap of $1.02 billion, a P/E ratio of -10.68 and a beta of 1.45. The company has a fifty day moving average price of $10.50 and a two-hundred day moving average price of $18.01.

Evolent Health (NYSE:EVH) last posted its quarterly 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 company had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. Analysts predict that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on EVH. Truist Financial cut 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. JPMorgan Chase & Co. cut their price target on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. JMP Securities reiterated a “market outperform” rating and set a $12.00 price target on shares of Evolent Health in a report on Friday, February 14th. Royal Bank of Canada cut their price target on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. Finally, Piper Sandler reiterated an “overweight” rating and set a $16.00 price target (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Evolent Health has a consensus rating of “Buy” and an average target price of $17.79.

Institutional Investors Weigh In On Evolent Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd boosted its holdings in Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after purchasing an additional 826 shares during the last quarter. Summit Creek Advisors LLC boosted its holdings in Evolent Health by 0.8% during the fourth quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company’s stock worth $2,274,000 after purchasing an additional 1,636 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Evolent Health during the fourth quarter worth about $26,000. Parkside Financial Bank & Trust boosted its holdings in Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after purchasing an additional 2,358 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its holdings in Evolent Health by 28.0% during the fourth quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company’s stock worth $131,000 after purchasing an additional 2,542 shares during 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.