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 Evolent Health stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $9.01 per share, for a total transaction of $497,577.25. Following the acquisition, the chief executive officer now owns 762,217 shares of the company’s stock, valued at $6,867,575.17. This represents a 7.81 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Evolent Health Stock Performance

Shares of EVH opened at $9.37 on Wednesday. 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 firm has a market cap of $1.09 billion, a PE ratio of -11.42 and a beta of 1.49. The company’s 50 day simple moving average is $10.29 and its 200-day simple moving average is $17.28. Evolent Health, Inc. has a 12-month low of $8.35 and a 12-month high of $34.07.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) 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 analysts’ expectations of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. As a group, equities analysts predict that Evolent Health, Inc. will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd grew its position 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 last quarter. Summit Creek Advisors LLC grew its position in Evolent Health by 0.8% in the 4th quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company’s stock valued at $2,274,000 after buying an additional 1,636 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Evolent Health in the 4th quarter valued at $26,000. Parkside Financial Bank & Trust grew its position in 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 buying an additional 2,358 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in Evolent Health by 28.0% in the 4th quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company’s stock valued at $131,000 after buying an additional 2,542 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on EVH shares. JPMorgan Chase & Co. reduced their target price on shares of Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday. Piper Sandler reissued an “overweight” rating and set a $16.00 price objective (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Royal Bank of Canada cut their price objective on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. Canaccord Genuity Group cut their price objective on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Finally, Oppenheimer cut their price objective on shares of 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 given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $17.71.

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.