Evolent Health (NYSE:EVH) Shares Gap Up After Insider Buying Activity

Shares of Evolent Health, Inc. (NYSE:EVH) gapped up before the market opened on Monday after an insider bought additional shares in the company. The stock had previously closed at $8.99, but opened at $9.49. Evolent Health shares last traded at $9.06, with a volume of 643,570 shares trading hands.

Specifically, CEO Seth Blackley acquired 55,225 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $9.01 per share, with a total value of $497,577.25. Following the acquisition, the chief executive officer now directly owns 762,217 shares of the company’s stock, valued at $6,867,575.17. This represents a 7.81 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Daniel Joseph Mccarthy bought 11,040 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average price of $9.01 per share, with a total value of $99,470.40. Following the transaction, the president now directly owns 389,004 shares in the company, valued at $3,504,926.04. This represents a 2.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, Director Diane Holder purchased 2,735 shares of the stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the transaction, the director now owns 70,584 shares in the company, valued at $658,548.72. This trade represents a 4.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EVH. JPMorgan Chase & Co. lowered their price objective on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Barclays dropped their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Citigroup cut their price objective on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, January 10th. BTIG Research reduced their target price on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Finally, JMP Securities reiterated a “market outperform” rating and set a $12.00 price target on shares of Evolent Health in a research note on Friday, February 14th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $17.79.

Evolent Health Stock Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $1.05 billion, a P/E ratio of -11.04 and a beta of 1.49. The firm has a 50 day moving average price of $10.37 and a two-hundred day moving average price of $17.61.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The business had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. On average, research analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Evolent Health in the 4th quarter valued at about $26,000. R Squared Ltd bought a new position in Evolent Health in the fourth quarter valued at approximately $31,000. AlphaQuest LLC grew its holdings in Evolent Health by 21,650.0% during the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after acquiring an additional 3,031 shares during the period. Covestor Ltd raised its position in shares of Evolent Health by 138.1% during the 3rd 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. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Evolent Health by 90.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after purchasing an additional 2,358 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.