Insider Buying: Evolent Health, Inc. (NYSE:EVH) President Buys $99,470.40 in Stock

Evolent Health, Inc. (NYSE:EVH) President Daniel Joseph Mccarthy bought 11,040 shares of the stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $9.01 per share, with a total value of $99,470.40. Following the completion of the acquisition, the president now directly owns 389,004 shares in the company, valued at approximately $3,504,926.04. This trade represents a 2.92 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Evolent Health Trading Up 1.0 %

Shares of NYSE:EVH opened at $9.49 on Thursday. The business’s 50-day moving average is $10.26 and its 200 day moving average is $17.23. Evolent Health, Inc. has a 1 year low of $8.35 and a 1 year high of $34.07. The firm has a market capitalization of $1.11 billion, a P/E ratio of -11.57 and a beta of 1.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

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 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 business had revenue of $646.54 million for the quarter, compared to analyst estimates of $650.92 million. On average, research analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EVH shares. Canaccord Genuity Group lowered their target price on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Truist Financial lowered their target price on Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their target price on Evolent Health from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Monday. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of Evolent Health in a research note on Friday, February 21st. Finally, Piper Sandler restated an “overweight” rating and set a $16.00 price objective (down from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $17.71.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in Evolent Health during the 4th quarter valued at about $95,000. Sea Cliff Partners Management LP acquired a new position in shares of Evolent Health in the fourth quarter valued at about $9,338,000. Silvercrest Asset Management Group LLC increased its holdings in shares of Evolent Health by 37.3% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,371,053 shares of the technology company’s stock valued at $15,424,000 after purchasing an additional 372,793 shares during the period. Raiffeisen Bank International AG acquired a new position in shares of Evolent Health in the fourth quarter valued at about $988,000. Finally, Redwood Investment Management LLC acquired a new position in shares of Evolent Health in the fourth quarter valued at about $468,000.

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.