Evolent Health (NYSE:EVH) Stock Price Up 4.9% Following Insider Buying Activity

Evolent Health, Inc. (NYSE:EVH) rose 4.9% during trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $9.11 and last traded at $9.17. Approximately 335,717 shares changed hands during trading, a decline of 87% from the average daily volume of 2,497,134 shares. The stock had previously closed at $8.74.

Specifically, Director Brendan B. Springstubb acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $8.75 per share, with a total value of $43,750.00. Following the completion of the transaction, the director now directly owns 11,842 shares in the company, valued at $103,617.50. This trade represents a 73.08 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group lowered their price target on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of Evolent Health in a research report on Friday, February 21st. Citigroup dropped their price objective on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. JMP Securities reissued a “market outperform” rating and issued a $12.00 target price on shares of Evolent Health in a research note on Friday, February 14th. Finally, Oppenheimer dropped their price target on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $17.79.

Evolent Health Price Performance

The company’s 50-day moving average price is $10.50 and its two-hundred day moving average price is $18.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $1.06 billion, a P/E ratio of -11.11 and a beta of 1.45.

Evolent Health (NYSE:EVH) last released 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. As a group, sell-side analysts expect that Evolent Health, Inc. will post 0.08 EPS for the current year.

Institutional Trading of Evolent Health

Several institutional investors have recently added to or reduced their stakes in the company. Cadian Capital Management LP acquired a new stake in shares of Evolent Health during the fourth quarter worth $58,781,000. Wellington Management Group LLP raised its stake in 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 worth $356,200,000 after purchasing an additional 1,426,747 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Evolent Health by 1,948.5% in the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after buying an additional 1,422,385 shares in the last quarter. Engaged Capital LLC raised its holdings in Evolent Health by 35.5% in the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock valued at $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% in the 4th quarter. Boston Partners now owns 2,444,006 shares of the technology company’s stock valued at $27,097,000 after acquiring an additional 1,171,304 shares in the last quarter.

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.