Evolent Health (NYSE:EVH) Shares Up 5.7% – Here’s What Happened

by · The Cerbat Gem

Evolent Health, Inc. (NYSE:EVH – Get Free Report) was up 5.7% during trading on Monday . The stock traded as high as $9.66 and last traded at $9.50. Approximately 169,134 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 2,341,726 shares. The stock had previously closed at $8.98.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Stephens decreased their price target on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. UBS Group decreased their price objective on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Truist Financial lowered their target price on Evolent Health from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Canaccord Genuity Group reduced their target price on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of Evolent Health in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Evolent Health has an average rating of “Buy” and a consensus price target of $17.71.

View Our Latest Stock Analysis on EVH

Evolent Health Price Performance

The company’s 50 day simple moving average is $9.53 and its 200-day simple moving average is $12.50. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -11.38 and a beta of 1.20.

Evolent Health (NYSE:EVH – Get Free Report) last announced 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). The business had revenue of $646.54 million for the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. On average, equities research analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Evolent Health news, President Daniel Joseph Mccarthy purchased 11,040 shares of the firm’s stock in a transaction 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 completion of the transaction, the president now owns 389,004 shares in the company, valued at $3,504,926.04. This represents a 2.92 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brendan B. Springstubb purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the transaction, the director now owns 11,842 shares of the company’s stock, valued at $103,617.50. The trade was a 73.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 74,000 shares of company stock valued at $666,315 over the last quarter. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Evolent Health

Several hedge funds have recently bought and sold shares of the business. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Evolent Health during the 4th quarter valued at about $26,000. R Squared Ltd bought a new stake in Evolent Health during the 4th quarter worth about $31,000. AlphaQuest LLC lifted its position in Evolent Health by 21,650.0% during the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock valued at $34,000 after purchasing an additional 3,031 shares during the period. Parkside Financial Bank & Trust lifted its position in 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 purchasing an additional 2,358 shares during the period. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of Evolent Health in the 4th quarter valued at approximately $61,000.

Evolent Health Company Profile

(Get Free Report)

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.

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