Evolent Health (NYSE:EVH) Shares Gap Up Following Insider Buying Activity

Evolent Health, Inc. (NYSE:EVH)’s share price gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $8.99, but opened at $9.49. Evolent Health shares last traded at $9.06, with a volume of 643,570 shares changing hands.

Specifically, CEO Seth Blackley acquired 55,225 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $9.01 per share, with a total value of $497,577.25. Following the completion of the transaction, the chief executive officer now directly owns 762,217 shares in the company, valued at approximately $6,867,575.17. This represents a 7.81 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Daniel Joseph Mccarthy bought 11,040 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $9.01 per share, for a total transaction of $99,470.40. Following the transaction, the president now owns 389,004 shares of the company’s stock, valued at $3,504,926.04. The trade was a 2.92 % increase in their position. The disclosure for this purchase can be found here. In other Evolent Health news, Director Diane Holder purchased 2,735 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the acquisition, the director now owns 70,584 shares of the company’s stock, valued at approximately $658,548.72. The trade was a 4.03 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Ratings Changes

A number of brokerages have recently commented on EVH. JPMorgan Chase & Co. lowered their price objective on Evolent Health from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday. BTIG Research lowered their price target on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Stephens cut their price objective 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. Canaccord Genuity Group decreased their target price on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, Barclays dropped their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $17.71.

Evolent Health Trading Up 0.7 %

The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -11.04 and a beta of 1.49. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $10.33 and a 200-day moving average price of $17.45.

Evolent Health (NYSE:EVH) last released its quarterly 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). 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 analysts’ expectations of $650.92 million. As a group, research analysts expect that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Evolent Health during the fourth quarter worth about $26,000. R Squared Ltd acquired a new stake in Evolent Health during the 4th quarter valued at approximately $31,000. AlphaQuest LLC increased its holdings in Evolent Health by 21,650.0% during the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after purchasing an additional 3,031 shares during the last quarter. Covestor Ltd raised its position in shares of Evolent Health by 138.1% in 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 in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake 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 buying an additional 2,358 shares during the last quarter.

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.