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

Evolent Health, Inc. (NYSE:EVH) Director Brendan B. Springstubb acquired 5,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $8.75 per share, with a total value of $43,750.00. Following the completion of the acquisition, the director now directly owns 11,842 shares in the company, valued at approximately $103,617.50. The trade was a 73.08 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Evolent Health Trading Up 6.6 %

NYSE:EVH opened at $9.32 on Friday. 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 business’s 50-day simple moving average is $10.45 and its 200-day simple moving average is $17.94. Evolent Health, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $34.84. The stock has a market capitalization of $1.09 billion, a PE ratio of -11.36 and a beta of 1.45.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EVH shares. Truist Financial lowered their price target on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Oppenheimer lowered their target price on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Piper Sandler reissued an “overweight” rating and issued a $16.00 price target (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. JMP Securities reaffirmed a “market outperform” rating and set a $12.00 price objective on shares of Evolent Health in a research note on Friday, February 14th. Finally, Stephens dropped their price objective on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $17.79.

Institutional Investors Weigh In On Evolent Health

Several institutional investors have recently added to or reduced their stakes in EVH. Wellington Management Group LLP raised its stake in shares of 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 valued at $356,200,000 after purchasing an additional 1,426,747 shares during the period. Vanguard Group Inc. grew its holdings in shares of Evolent Health by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock worth $125,676,000 after buying an additional 259,781 shares in the last quarter. Engaged Capital LLC raised its position 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 buying an additional 1,415,300 shares during the last quarter. Cadian Capital Management LP acquired a new position in Evolent Health during the 4th quarter worth approximately $58,781,000. Finally, Eventide Asset Management LLC grew its stake in shares of Evolent Health by 1.7% during the 3rd quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock worth $107,580,000 after acquiring an additional 64,985 shares in 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.