Seth Blackley Buys 55,225 Shares of Evolent Health, Inc. (NYSE:EVH) Stock

Evolent Health, Inc. (NYSE:EVH) CEO Seth Blackley bought 55,225 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the transaction, the chief executive officer now directly owns 762,217 shares in the company, valued at approximately $6,867,575.17. This represents a 7.81 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Evolent Health Trading Up 2.9 %

Shares of EVH stock opened at $9.37 on Wednesday. The firm has a 50-day moving average price of $10.29 and a 200 day moving average price of $17.28. Evolent Health, Inc. has a twelve month low of $8.35 and a twelve month high of $34.07. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -11.42 and a beta of 1.49. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58.

Evolent Health (NYSE:EVH) last announced 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 firm had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. Research analysts forecast that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EVH has been the topic of several research analyst reports. Citigroup decreased their target price on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Truist Financial decreased their target price on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. BTIG Research decreased their target price on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Stephens cut their price target on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Finally, UBS Group cut their price target on Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Evolent Health presently has a consensus rating of “Buy” and an average price target of $17.71.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in Evolent Health by 180.3% in the 3rd quarter. US Bancorp DE now owns 6,579 shares of the technology company’s stock valued at $186,000 after buying an additional 4,232 shares during the period. Principal Financial Group Inc. grew its holdings in Evolent Health by 268.0% in the 3rd quarter. Principal Financial Group Inc. now owns 57,382 shares of the technology company’s stock valued at $1,623,000 after buying an additional 41,788 shares during the period. Atria Investments Inc purchased a new stake in Evolent Health in the 3rd quarter valued at about $208,000. Covestor Ltd grew its holdings in Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after buying an additional 826 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Evolent Health in the 3rd quarter valued at about $1,774,000.

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.