Evolent Health (NYSE:EVH) Shares Gap Up Following 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 changing hands.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on EVH shares. Citigroup lowered their price target on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Canaccord Genuity Group decreased their price target on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lowered their target price on Evolent Health from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. BTIG Research reduced their price target on 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, Truist Financial lowered their price objective on Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price 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 stock has a fifty day simple moving average of $10.37 and a two-hundred day simple moving average of $17.61. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -11.04 and a beta of 1.49.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The company 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%. Analysts expect that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pilgrim Partners Asia Pte Ltd bought a new stake in Evolent Health in the fourth quarter valued at approximately $26,000. R Squared Ltd acquired a new stake in shares of Evolent Health during the fourth quarter worth $31,000. AlphaQuest LLC raised its stake in Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after buying an additional 3,031 shares during the last quarter. Covestor Ltd boosted its position in Evolent Health by 138.1% during the third 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 grew its holdings 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 acquiring 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.