2,300 Shares in Evolent Health, Inc. (NYSE:EVH) Purchased by Pilgrim Partners Asia Pte Ltd

Pilgrim Partners Asia Pte Ltd bought a new position in shares of Evolent Health, Inc. (NYSE:EVH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,300 shares of the technology company’s stock, valued at approximately $26,000.

A number of other hedge funds also recently added to or reduced their stakes in EVH. Norges Bank acquired a new stake in shares of Evolent Health in the 4th quarter worth approximately $12,519,000. Summit Creek Advisors LLC grew its holdings in 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 purchasing an additional 1,636 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Evolent Health by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock valued at $125,676,000 after buying an additional 259,781 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Evolent Health during the 4th quarter worth $233,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Evolent Health in the 4th quarter worth about $1,351,000.

Analysts Set New Price Targets

EVH has been the subject of several recent research reports. Oppenheimer dropped their target price on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 24th. JMP Securities restated a “market outperform” rating and set a $12.00 price objective on shares of Evolent Health in a research report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price on shares of Evolent Health in a report on Friday, February 21st. Royal Bank of Canada cut their price target on Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. Finally, Truist Financial reduced their price objective on Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. One 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. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $17.71.

Evolent Health Price Performance

EVH opened at $9.98 on Friday. Evolent Health, Inc. has a 1 year low of $8.35 and a 1 year high of $33.63. The company’s 50 day simple moving average is $9.79 and its 200 day simple moving average is $14.72. The stock has a market capitalization of $1.16 billion, a PE ratio of -12.17 and a beta of 1.49. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The company had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. As a group, sell-side analysts expect that Evolent Health, Inc. will post 0.08 EPS for the current year.

Insider Transactions at Evolent Health

In other Evolent Health news, President Daniel Joseph Mccarthy bought 11,040 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $9.01 per share, with a total value of $99,470.40. Following the purchase, the president now owns 389,004 shares in the company, valued at approximately $3,504,926.04. The trade was a 2.92 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Seth Blackley purchased 55,225 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of $9.01 per share, with a total value of $497,577.25. Following the completion of the transaction, the chief executive officer now owns 762,217 shares in the company, valued at $6,867,575.17. This trade represents a 7.81 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 74,000 shares of company stock worth $666,315 in the last three months. 1.60% of the stock is currently owned by company insiders.

Evolent Health 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.