Evolent Health, Inc. (NYSE:EVH) CEO Buys $497,577.25 in Stock

Evolent Health, Inc. (NYSE:EVH) CEO Seth Blackley acquired 55,225 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $9.01 per share, with a total value of $497,577.25. Following the transaction, the chief executive officer now owns 762,217 shares in the company, valued at approximately $6,867,575.17. This trade represents a 7.81 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Evolent Health Price Performance

Evolent Health stock opened at $9.49 on Thursday. The stock has a market cap of $1.11 billion, a P/E ratio of -11.57 and a beta of 1.49. The company’s 50 day moving average price is $10.26 and its two-hundred day moving average price is $17.23. 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 52 week low of $8.35 and a 52 week high of $34.07.

Evolent Health (NYSE:EVH) last posted 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 company had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. On average, equities analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP bought a new position in shares of Evolent Health in the third quarter valued at approximately $7,070,000. Foundry Partners LLC purchased a new stake in Evolent Health in the 3rd quarter worth approximately $10,042,000. Salem Investment Counselors Inc. boosted its holdings in Evolent Health by 53.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock valued at $3,939,000 after purchasing an additional 121,369 shares during the period. Nordea Investment Management AB grew its position in shares of Evolent Health by 7.0% during the 4th quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock valued at $1,469,000 after purchasing an additional 8,552 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Evolent Health by 90.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock worth $9,036,000 after purchasing an additional 380,790 shares during the period.

Analysts Set New Price Targets

Several research analysts recently issued reports on EVH shares. Truist Financial cut 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 note on Wednesday, January 22nd. Piper Sandler reissued an “overweight” rating and set a $16.00 price objective (down previously from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. Citigroup decreased their target price on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Stephens dropped their price target on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of Evolent Health in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $17.71.

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.