Point72 DIFC Ltd Makes New Investment in Evolent Health, Inc. (NYSE:EVH)

Point72 DIFC Ltd acquired a new stake in Evolent Health, Inc. (NYSE:EVH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,725 shares of the technology company’s stock, valued at approximately $148,000.

Other hedge funds also recently modified their holdings of the company. NBC Securities Inc. boosted its stake in Evolent Health by 16.6% during the first quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after buying an additional 350 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Evolent Health by 3.2% in the 2nd quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock valued at $298,000 after purchasing an additional 480 shares during the period. Ascent Group LLC raised its holdings in shares of Evolent Health by 2.8% in the 1st quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock worth $667,000 after buying an additional 550 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in shares of Evolent Health by 6.3% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock worth $195,000 after buying an additional 600 shares during the period. Finally, American International Group Inc. boosted its stake in Evolent Health by 1.2% in the 1st quarter. American International Group Inc. now owns 55,402 shares of the technology company’s stock valued at $1,817,000 after buying an additional 640 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Insider Transactions at Evolent Health

In other news, COO Emily Ann Rafferty sold 8,861 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 $265,830.00. Following the completion of the transaction, the chief operating officer now directly owns 63,408 shares of the company’s stock, valued at $1,902,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Daniel Joseph Mccarthy sold 23,693 shares of Evolent Health stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total value of $731,876.77. Following the sale, the president now owns 198,809 shares of the company’s stock, valued at $6,141,210.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Emily Ann Rafferty sold 8,861 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $265,830.00. Following the completion of the transaction, the chief operating officer now owns 63,408 shares of the company’s stock, valued at $1,902,240. The disclosure for this sale can be found here. Insiders sold 307,291 shares of company stock valued at $9,290,385 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Evolent Health Stock Performance

EVH stock opened at $27.06 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. Evolent Health, Inc. has a twelve month low of $17.98 and a twelve month high of $35.00. The business’s fifty day moving average is $27.84 and its 200-day moving average is $26.11. The company has a market cap of $3.14 billion, a P/E ratio of -21.65 and a beta of 1.57.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The company had revenue of $647.10 million for the quarter, compared to analysts’ expectations of $636.46 million. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The business’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. Equities research analysts forecast that Evolent Health, Inc. will post 0.86 EPS for the current year.

Evolent Health Company 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.