Evolent Health (NYSE:EVH) President Daniel Joseph Mccarthy Sells 65,892 Shares

Evolent Health, Inc (NYSE:EVH) President Daniel Joseph Mccarthy sold 65,892 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $5.00, for a total value of $329,460.00. Following the transaction, the president owned 655,133 shares of the company’s stock, valued at approximately $3,275,665. The trade was a 9.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Evolent Health Stock Performance

Shares of Evolent Health stock opened at $4.61 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 2.52. The stock’s fifty day moving average is $4.78 and its two-hundred day moving average is $3.84. Evolent Health, Inc has a 52 week low of $2.10 and a 52 week high of $10.08. The company has a market capitalization of $521.21 million, a PE ratio of -1.01 and a beta of 0.79.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $484.50 million during the quarter, compared to the consensus estimate of $597.70 million. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%.The business’s revenue for the quarter was up 46.9% compared to the same quarter last year. During the same period last year, the company earned ($0.10) earnings per share. As a group, analysts expect that Evolent Health, Inc will post -0.25 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on EVH. JPMorgan Chase & Co. boosted their price objective on shares of Evolent Health from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Tuesday, August 18th. Weiss Ratings lowered shares of Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 18th. Canaccord Genuity Group lowered their price target on Evolent Health from $7.00 to $6.00 and set a “buy” rating for the company in a report on Monday, August 10th. Citigroup upgraded Evolent Health from a “neutral” rating to a “buy” rating and lowered their price target for the company from $6.75 to $6.00 in a report on Monday, August 10th. Finally, TD Cowen increased their price objective on Evolent Health from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $5.96.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVH. Brighton Jones LLC purchased a new position in Evolent Health during the 4th quarter valued at about $3,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Evolent Health by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock worth $1,217,000 after purchasing an additional 3,572 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Evolent Health by 162.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after purchasing an additional 1,754,520 shares in the last quarter. Caxton Associates LLP purchased a new position in Evolent Health during the first quarter valued at approximately $252,000. Finally, Strs Ohio bought a new position in Evolent Health in the first quarter worth approximately $47,000.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.