Vestcor Inc Makes New Investment in Evolent Health, Inc. (NYSE:EVH)

Vestcor Inc purchased a new stake in shares of Evolent Health, Inc. (NYSE:EVH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,006 shares of the technology company’s stock, valued at approximately $113,000.

A number of other hedge funds and other institutional investors have also modified their holdings of EVH. R Squared Ltd bought a new position in shares of Evolent Health during the 4th quarter valued at $31,000. AlphaQuest LLC raised its holdings in shares of Evolent Health by 21,650.0% during the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock valued at $34,000 after purchasing an additional 3,031 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Evolent Health by 90.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after purchasing an additional 2,358 shares in the last quarter. AlphaCentric Advisors LLC bought a new position in shares of Evolent Health during the 4th quarter valued at $61,000. Finally, KBC Group NV raised its holdings in shares of Evolent Health by 124.6% during the 4th quarter. KBC Group NV now owns 6,741 shares of the technology company’s stock valued at $76,000 after purchasing an additional 3,739 shares in the last quarter.

Evolent Health Stock Performance

NYSE EVH opened at $10.15 on Wednesday. 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 firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -12.37 and a beta of 1.49. The company’s fifty day moving average is $10.09 and its two-hundred day moving average is $16.51. Evolent Health, Inc. has a 52-week low of $8.35 and a 52-week high of $33.63.

Evolent Health (NYSE:EVH) last posted its 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 business had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. Equities research analysts forecast that Evolent Health, Inc. will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Evolent Health in a report on Friday, February 21st. JPMorgan Chase & Co. dropped 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, March 10th. Truist Financial dropped their target price on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. UBS Group dropped their target price on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Stephens dropped their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Evolent Health presently has a consensus rating of “Buy” and an average target price of $17.71.

Insider Activity at Evolent Health

In other news, President Daniel Joseph Mccarthy acquired 11,040 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $9.01 per share, with a total value of $99,470.40. Following the completion of the purchase, the president now owns 389,004 shares of the company’s stock, valued at $3,504,926.04. This represents a 2.92 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Seth Blackley acquired 55,225 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the purchase, the chief executive officer now directly owns 762,217 shares of the company’s stock, valued at approximately $6,867,575.17. The trade was a 7.81 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 74,000 shares of company stock valued at $666,315 over the last quarter. 1.60% of the stock is owned by company insiders.

Evolent Health 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.