Evolent Health (NYSE:EVH) Stock Price Up 4.9% Following Insider Buying Activity

Evolent Health, Inc. (NYSE:EVH) shares traded up 4.9% during trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $9.11 and last traded at $9.17. 335,717 shares changed hands during trading, a decline of 87% from the average session volume of 2,497,134 shares. The stock had previously closed at $8.74.

Specifically, Director Brendan B. Springstubb bought 5,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $8.75 per share, with a total value of $43,750.00. Following the completion of the purchase, the director now directly owns 11,842 shares in the company, valued at $103,617.50. The trade was a 73.08 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

EVH has been the topic of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 price target (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Royal Bank of Canada reduced their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. Stephens dropped their price target on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Citigroup reduced their price objective on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Barclays lowered their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $17.79.

Evolent Health Trading Up 4.3 %

The company’s fifty day simple moving average is $10.50 and its two-hundred day simple moving average is $18.01. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -11.11 and a beta of 1.45. 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 (NYSE:EVH) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.35). The business had revenue of $646.54 million for the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. Research analysts forecast that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Several institutional investors have recently modified their holdings of EVH. Covestor Ltd raised its holdings in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after buying an additional 826 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Evolent Health during the fourth quarter worth $26,000. R Squared Ltd acquired a new stake in shares of Evolent Health during the fourth quarter worth $31,000. AlphaQuest LLC lifted its position in Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock valued at $34,000 after acquiring an additional 3,031 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in Evolent Health by 90.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after acquiring an additional 2,358 shares in 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.