Evolent Health (NYSE:EVH) Shares Down 5.8% – Here’s Why

Evolent Health, Inc. (NYSE:EVH)’s stock price was down 5.8% during trading on Thursday . The stock traded as low as $8.76 and last traded at $8.70. Approximately 262,479 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 2,300,795 shares. The stock had previously closed at $9.23.

Analyst Ratings Changes

EVH has been the topic of a number of analyst reports. UBS Group dropped their price objective on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. JMP Securities restated a “market outperform” rating and set a $12.00 price target on shares of Evolent Health in a research report on Friday, February 14th. Stephens decreased their price objective on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Truist Financial dropped their target price on Evolent Health from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. reduced their price target on Evolent Health from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Monday, March 10th. One investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $17.64.

Evolent Health Stock Performance

The firm’s 50 day moving average price is $9.64 and its two-hundred day moving average price is $13.29. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $1.04 billion, a PE ratio of -10.92 and a beta of 1.20.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The company had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. On average, research analysts forecast that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In related news, President Daniel Joseph Mccarthy acquired 11,040 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $9.01 per share, for a total transaction of $99,470.40. Following the completion of the purchase, the president now owns 389,004 shares in the company, valued at approximately $3,504,926.04. The trade was a 2.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brendan B. Springstubb purchased 5,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the acquisition, the director now owns 11,842 shares in the company, valued at $103,617.50. This trade represents a 73.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 74,000 shares of company stock valued at $666,315. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Evolent Health

A number of large investors have recently modified their holdings of the company. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Evolent Health during the fourth quarter worth $26,000. R Squared Ltd acquired a new position in shares of Evolent Health during the 4th quarter worth about $31,000. AlphaQuest LLC increased its holdings in shares of 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 during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of 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 during the last quarter. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of Evolent Health during the 4th quarter worth about $61,000.

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.