Evolent Health, Inc. (NYSE:EVH) Short Interest Down 10.8% in September

Evolent Health, Inc. (NYSE:EVH) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 12,530,000 shares, a decrease of 10.8% from the September 15th total of 14,040,000 shares. Based on an average daily volume of 2,340,000 shares, the short-interest ratio is currently 5.4 days.

Evolent Health Trading Down 5.9 %

NYSE:EVH traded down $1.57 during midday trading on Thursday, reaching $24.96. 3,150,753 shares of the stock traded hands, compared to its average volume of 1,613,090. The stock has a market capitalization of $2.90 billion, a P/E ratio of -19.97 and a beta of 1.56. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. The company has a fifty day moving average of $28.82 and a 200 day moving average of $25.68. Evolent Health has a 12 month low of $17.98 and a 12 month high of $35.00.

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

Insider Activity at Evolent Health

In other Evolent Health news, President Daniel Joseph Mccarthy sold 23,693 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the completion of the transaction, the president now owns 198,809 shares in the company, valued at $6,141,210.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were 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 in the company, valued at $12,357,720. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the business’s 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 transaction, the president now owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 307,291 shares of company stock worth $9,290,385. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Evolent Health

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Evolent Health by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock worth $357,905,000 after acquiring an additional 93,739 shares during the period. Wellington Management Group LLP raised its holdings in Evolent Health by 96.1% in the fourth quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock worth $274,584,000 after purchasing an additional 4,073,959 shares in the last quarter. RA Capital Management L.P. lifted its position in Evolent Health by 125.0% during the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock valued at $188,088,000 after buying an additional 3,187,000 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Evolent Health by 35.2% during the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after buying an additional 1,308,376 shares in the last quarter. Finally, Engaged Capital LLC grew its position in shares of Evolent Health by 26.1% in the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after buying an additional 850,000 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EVH. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 target price on shares of Evolent Health in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. KeyCorp started coverage on Evolent Health in a research report on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price for the company. Truist Financial reaffirmed a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research note on Tuesday, August 27th. Finally, Stephens reissued an “overweight” rating and set a $42.00 price target on shares of Evolent Health in a research note on Tuesday, July 30th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Evolent Health presently has a consensus rating of “Buy” and a consensus target price of $39.30.

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.