Evolent Health (NYSE:EVH) Director Acquires $38,200.00 in Stock

Evolent Health, Inc (NYSE:EVH) Director Brendan Springstubb purchased 10,000 shares of Evolent Health stock in a transaction dated Tuesday, November 18th. The shares were bought at an average price of $3.82 per share, with a total value of $38,200.00. Following the completion of the transaction, the director owned 58,821 shares in the company, valued at approximately $224,696.22. This trade represents a 20.48% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Evolent Health Price Performance

NYSE EVH traded down $0.46 during mid-day trading on Wednesday, hitting $3.55. The stock had a trading volume of 5,136,369 shares, compared to its average volume of 2,896,118. The company has a 50 day simple moving average of $7.42 and a 200 day simple moving average of $8.78. The company has a market cap of $395.63 million, a price-to-earnings ratio of -2.20 and a beta of 0.58. Evolent Health, Inc has a 52-week low of $3.49 and a 52-week high of $13.61. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.72.

Evolent Health (NYSE:EVH) last posted its earnings results on Tuesday, June 4th. The technology company reported $0.21 EPS for the quarter. Evolent Health had a positive return on equity of 1.83% and a negative net margin of 5.94%.The company had revenue of $427.70 million for the quarter. Equities analysts forecast that Evolent Health, Inc will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Citizens Jmp dropped their target price on shares of Evolent Health from $13.00 to $11.00 and set a “market outperform” rating for the company in a report on Monday, November 10th. Canaccord Genuity Group lowered their price target on shares of Evolent Health from $16.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Stephens raised shares of Evolent Health from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a research note on Thursday, November 13th. Piper Sandler upped their target price on Evolent Health from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Finally, BMO Capital Markets assumed coverage on Evolent Health in a report on Thursday, November 13th. They set an “outperform” rating and a $7.00 target price on the stock. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Hedge Funds Weigh In On Evolent Health

A number of institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of Evolent Health by 88.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after buying an additional 1,194 shares during the period. Banque Cantonale Vaudoise acquired a new position in Evolent Health in the 1st quarter valued at $25,000. Parallel Advisors LLC lifted its stake in shares of Evolent Health by 82.6% during the 2nd quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock worth $39,000 after purchasing an additional 1,577 shares during the period. Strs Ohio purchased a new position in shares of Evolent Health during the 1st quarter worth $47,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Evolent Health during the second quarter worth $58,000.

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.