Daniel Joseph Mccarthy Sells 23,693 Shares of Evolent Health, Inc. (NYSE:EVH) Stock

Evolent Health, Inc. (NYSE:EVH) President Daniel Joseph Mccarthy sold 23,693 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the completion of the sale, the president now directly owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Evolent Health Stock Performance

Shares of NYSE:EVH traded down $1.35 on Monday, hitting $31.62. 3,049,630 shares of the company were exchanged, compared to its average volume of 1,632,854. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average price is $22.48 and its 200 day moving average price is $26.55. Evolent Health, Inc. has a 1-year low of $17.98 and a 1-year high of $35.00. The firm has a market capitalization of $3.67 billion, a P/E ratio of -25.30 and a beta of 1.54.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.21 by $0.09. The business had revenue of $647.10 million during the quarter, compared to analysts’ expectations of $636.46 million. Evolent Health had a negative net margin of 5.07% and a positive return on equity of 6.90%. The business’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 EPS. Sell-side analysts predict that Evolent Health, Inc. will post 0.9 EPS for the current year.

Analyst Ratings Changes

EVH has been the subject of several research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 target price on shares of Evolent Health in a research report on Monday. JPMorgan Chase & Co. increased their target price on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of Evolent Health in a research note on Tuesday, July 30th. Canaccord Genuity Group cut their target price on Evolent Health from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Finally, JMP Securities decreased their target price on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.40.

Hedge Funds Weigh In On Evolent Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Scout Investments Inc. purchased a new stake in shares of Evolent Health during the first quarter worth $5,760,000. Zevenbergen Capital Investments LLC grew its holdings in Evolent Health by 126.5% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 565,625 shares of the technology company’s stock valued at $18,547,000 after buying an additional 315,875 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Evolent Health by 86.7% in the 1st quarter. BNP Paribas Financial Markets now owns 99,126 shares of the technology company’s stock valued at $3,250,000 after purchasing an additional 46,024 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Evolent Health by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 717,334 shares of the technology company’s stock valued at $23,522,000 after acquiring an additional 75,376 shares during the period. Finally, Norges Bank acquired a new position in Evolent Health during the fourth quarter worth $43,759,000.

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.