Insider Buying: Evolent Health, Inc. (NYSE:EVH) Director Purchases 5,000 Shares of Stock

Evolent Health, Inc. (NYSE:EVH) Director Brendan B. Springstubb acquired 5,000 shares of Evolent Health stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $8.75 per share, with a total value of $43,750.00. Following the completion of the purchase, the director now directly owns 11,842 shares of the company’s stock, valued at $103,617.50. The trade was a 73.08 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Evolent Health Stock Down 3.5 %

Shares of NYSE EVH opened at $8.99 on Friday. The firm’s 50-day simple moving average is $10.41 and its 200 day simple moving average is $17.88. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -10.96 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health, Inc. has a 12-month low of $8.35 and a 12-month high of $34.84.

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 company had revenue of $646.54 million for the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. On average, research analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVH. Covestor Ltd lifted its position in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 826 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new position in Evolent Health during the 4th quarter valued at about $26,000. R Squared Ltd acquired a new position in Evolent Health during the 4th quarter valued at about $31,000. AlphaQuest LLC lifted its position in 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 during the period. Finally, Parkside Financial Bank & Trust lifted its position 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 valued at $56,000 after purchasing an additional 2,358 shares during the period.

Analyst Ratings Changes

A number of brokerages recently issued reports on EVH. JMP Securities reaffirmed a “market outperform” rating and set a $12.00 target price on shares of Evolent Health in a research report on Friday, February 14th. 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 research report on Wednesday, January 22nd. UBS Group lowered their price target 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. JPMorgan Chase & Co. lowered their price target on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of Evolent Health in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.79.

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.