Daniel Joseph Mccarthy Purchases 11,040 Shares of Evolent Health, Inc. (NYSE:EVH) Stock

Evolent Health, Inc. (NYSE:EVH) President Daniel Joseph Mccarthy bought 11,040 shares of the stock in a transaction on Thursday, March 6th. The stock was purchased at an average cost of $9.01 per share, with a total value of $99,470.40. Following the acquisition, the president now owns 389,004 shares in the company, valued at approximately $3,504,926.04. This represents a 2.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Evolent Health Stock Performance

EVH stock opened at $9.37 on Wednesday. The firm has a market cap of $1.09 billion, a PE ratio of -11.42 and a beta of 1.49. 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 stock has a 50-day moving average price of $10.29 and a 200-day moving average price of $17.28. Evolent Health, Inc. has a 1-year low of $8.35 and a 1-year high of $34.07.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Royal Bank of Canada reduced their price target on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. reduced their target price on shares of Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday. Oppenheimer dropped their price target on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. BTIG Research reduced their price objective on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $15.00 price objective on shares of Evolent Health in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $17.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pilgrim Partners Asia Pte Ltd bought a new stake in Evolent Health in the fourth quarter valued at $26,000. R Squared Ltd acquired a new stake in shares of Evolent Health in the 4th quarter valued at about $31,000. AlphaQuest LLC grew its stake in shares of Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock valued at $34,000 after buying an additional 3,031 shares during the period. Covestor Ltd increased its position in Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after buying an additional 826 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Evolent Health by 90.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after buying an additional 2,358 shares during the period.

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.