Evolent Health, Inc. (NYSE:EVH) Shares Bought by Ironwood Investment Management LLC

Ironwood Investment Management LLC increased its holdings in Evolent Health, Inc. (NYSE:EVH) by 115.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 52,072 shares of the technology company’s stock after buying an additional 27,927 shares during the quarter. Ironwood Investment Management LLC’s holdings in Evolent Health were worth $586,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of EVH. Covestor Ltd increased its stake in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after buying an additional 826 shares in the last quarter. R Squared Ltd purchased a new stake in Evolent Health during the 4th quarter worth approximately $31,000. AlphaQuest LLC increased its stake 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 buying an additional 3,031 shares in the last quarter. Parkside Financial Bank & Trust increased 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 in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in Evolent Health during the 4th quarter worth approximately $61,000.

Evolent Health Trading Down 1.1 %

Shares of Evolent Health stock opened at $9.44 on Friday. 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 stock has a 50 day moving average of $10.22 and a 200 day moving average of $17.17. Evolent Health, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $33.63. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -11.51 and a beta of 1.49.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. cut their price objective on Evolent Health from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Piper Sandler restated an “overweight” rating and issued a $16.00 price target (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. Oppenheimer dropped their price target on Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target on shares of Evolent Health in a research report on Friday, February 21st. Finally, JMP Securities restated a “market outperform” rating and issued a $12.00 price target on shares of Evolent Health in a research report on Friday, February 14th. One equities research 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 company. According to MarketBeat, Evolent Health currently has an average rating of “Buy” and an average price target of $17.71.

Insiders Place Their Bets

In other Evolent Health news, Director Diane Holder purchased 2,735 shares of Evolent Health stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the transaction, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brendan B. Springstubb purchased 5,000 shares of Evolent Health stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $8.75 per share, with a total value of $43,750.00. Following the transaction, the director now owns 11,842 shares in the company, valued at $103,617.50. The trade was a 73.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 74,000 shares of company stock worth $666,315 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

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.