Daniel Joseph Mccarthy Buys 11,040 Shares of Evolent Health, Inc. (NYSE:EVH) Stock

Evolent Health, Inc. (NYSE:EVH) President Daniel Joseph Mccarthy acquired 11,040 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost of $9.01 per share, for a total transaction of $99,470.40. Following the completion of the acquisition, the president now directly owns 389,004 shares of the company’s stock, valued at approximately $3,504,926.04. This trade represents a 2.92 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Evolent Health Stock Performance

Shares of EVH stock opened at $9.49 on Thursday. The company has a market capitalization of $1.11 billion, a P/E ratio of -11.57 and a beta of 1.49. The business’s 50 day moving average is $10.26 and its two-hundred day moving average is $17.23. 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, Inc. has a 12-month low of $8.35 and a 12-month high of $34.07.

Evolent Health (NYSE:EVH) last released 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). The firm had revenue of $646.54 million during the quarter, compared to analysts’ expectations of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. Analysts expect that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Truist Financial dropped their target price on Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Canaccord Genuity Group dropped their target price on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 target price (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st. UBS Group dropped their target price on Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Oppenheimer dropped their target price on Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $17.71.

Hedge Funds Weigh In On Evolent Health

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd lifted its position in shares of Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after acquiring an additional 826 shares in the last quarter. Summit Creek Advisors LLC lifted its position in shares of Evolent Health by 0.8% in the fourth quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company’s stock valued at $2,274,000 after acquiring an additional 1,636 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Evolent Health in the fourth quarter valued at approximately $26,000. Parkside Financial Bank & Trust lifted its position in shares of Evolent Health by 90.7% in the fourth 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. Finally, Johnson Investment Counsel Inc. lifted its position in shares of Evolent Health by 28.0% in the fourth quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company’s stock valued at $131,000 after acquiring an additional 2,542 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.