Evolent Health (NYSE:EVH) Sees Large Volume Increase – Here’s Why

Evolent Health, Inc. (NYSE:EVH) saw unusually-high trading volume on Monday . Approximately 1,930,984 shares changed hands during trading, an increase of 13% from the previous session’s volume of 1,707,108 shares.The stock last traded at $14.44 and had previously closed at $13.36.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EVH. Citigroup dropped their price target on shares of Evolent Health from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. JMP Securities decreased their price target on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and set a $20.00 price objective on shares of Evolent Health in a report on Tuesday. Stephens cut shares of Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $38.00 to $16.00 in a report on Friday, November 8th. Finally, Barclays reduced their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $30.70.

Evolent Health Stock Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.08. The company’s fifty day moving average is $26.17 and its two-hundred day moving average is $24.61.

Insider Buying and Selling at Evolent Health

In other news, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the transaction, the chief executive officer now owns 411,924 shares of the company’s stock, valued at $12,357,720. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO John Paul Johnson sold 44,693 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $1,340,790.00. Following the completion of the transaction, the chief financial officer now owns 171,207 shares of the company’s stock, valued at approximately $5,136,210. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the sale, the chief executive officer now owns 411,924 shares of the company’s stock, valued at $12,357,720. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 307,291 shares of company stock valued at $9,290,385. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Evolent Health

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Evolent Health by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock valued at $357,905,000 after buying an additional 93,739 shares in the last quarter. RA Capital Management L.P. raised its stake in Evolent Health by 125.0% in the 1st quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock valued at $188,088,000 after purchasing an additional 3,187,000 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Evolent Health by 35.2% in the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after purchasing an additional 1,308,376 shares in the last quarter. Engaged Capital LLC boosted its stake in Evolent Health by 26.1% during the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after purchasing an additional 850,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Evolent Health by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company’s stock worth $45,286,000 after buying an additional 121,770 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.