Evolent Health (NYSE:EVH) Trading Down 3.9%

Evolent Health, Inc. (NYSE:EVH)’s share price dropped 3.9% during mid-day trading on Wednesday . The company traded as low as $25.93 and last traded at $26.00. Approximately 176,378 shares were traded during trading, a decline of 89% from the average daily volume of 1,611,797 shares. The stock had previously closed at $27.05.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JMP Securities reduced their price target on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price target on shares of Evolent Health in a research report on Monday, August 26th. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of Evolent Health in a report on Tuesday, July 30th. Truist Financial reissued a “buy” rating and issued a $33.00 price objective on shares of Evolent Health in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. raised their target price on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Evolent Health has an average rating of “Moderate Buy” and a consensus target price of $40.40.

Evolent Health Stock Down 3.0 %

The firm has a 50 day moving average price of $27.84 and a 200-day moving average price of $26.11. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -21.65 and a beta of 1.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The company had revenue of $647.10 million for the quarter, compared to the consensus estimate of $636.46 million. During the same period in the prior year, the company posted $0.06 EPS. The company’s revenue was up 37.9% compared to the same quarter last year. As a group, equities analysts predict that Evolent Health, Inc. will post 0.86 EPS for the current fiscal year.

Insider Activity at Evolent Health

In related news, President Daniel Joseph Mccarthy sold 23,693 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total transaction of $731,876.77. Following the sale, the president now owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Seth Blackley sold 187,904 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 transaction of $5,637,120.00. Following the completion of the transaction, the chief executive officer now directly owns 411,924 shares of the company’s stock, valued at $12,357,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total value of $731,876.77. Following the transaction, the president now directly owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. The disclosure for this sale can be found here. Insiders have sold 307,291 shares of company stock worth $9,290,385 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Several hedge funds have recently modified their holdings of EVH. Quarry LP acquired a new position in Evolent Health during the second quarter valued at approximately $32,000. Headlands Technologies LLC bought a new stake in shares of Evolent Health during the 1st quarter worth approximately $46,000. Canada Pension Plan Investment Board acquired a new stake in shares of Evolent Health in the 2nd quarter valued at approximately $61,000. NBC Securities Inc. grew its stake in shares of Evolent Health by 16.6% in the first quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock valued at $81,000 after buying an additional 350 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Evolent Health during the second quarter worth $87,000.

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.