Evolent Health (NYSE:EVH) Trading Down 3.9%

Evolent Health, Inc. (NYSE:EVH)’s stock price traded down 3.9% during trading on Wednesday . The stock traded as low as $25.93 and last traded at $26.00. 176,378 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 1,611,797 shares. The stock had previously closed at $27.05.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JMP Securities dropped their price objective on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Truist Financial reissued a “buy” rating and issued a $33.00 price target on shares of Evolent Health in a report on Tuesday, August 27th. Stephens restated an “overweight” rating and set a $42.00 price objective on shares of Evolent Health in a report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Evolent Health in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. lifted their price target on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.40.

Evolent Health Price Performance

The company has a fifty day simple moving average of $27.84 and a two-hundred day simple moving average of $26.11. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of -21.65 and a beta of 1.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The business had revenue of $647.10 million during the quarter, compared to the consensus estimate of $636.46 million. Evolent Health’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. As a group, equities research analysts expect that Evolent Health, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Transactions at Evolent Health

In related news, President Daniel Joseph Mccarthy sold 23,693 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the transaction, the president now directly owns 198,809 shares of the company’s stock, valued at $6,141,210.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the sale, the chief executive officer now directly owns 411,924 shares of the company’s stock, valued at $12,357,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Daniel Joseph Mccarthy sold 23,693 shares of Evolent Health 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 transaction, the president now owns 198,809 shares in the company, valued at approximately $6,141,210.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 307,291 shares of company stock valued at $9,290,385. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Evolent Health

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its stake in shares of Evolent Health by 10.4% in the 4th quarter. Principal Financial Group Inc. now owns 12,716 shares of the technology company’s stock valued at $420,000 after acquiring an additional 1,202 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Evolent Health by 11.9% during the fourth quarter. Hsbc Holdings PLC now owns 107,155 shares of the technology company’s stock valued at $3,544,000 after purchasing an additional 11,372 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Evolent Health by 81.3% during the fourth quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock valued at $88,355,000 after purchasing an additional 1,199,400 shares in the last quarter. First Light Asset Management LLC bought a new stake in shares of Evolent Health during the fourth quarter worth about $2,699,000. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of Evolent Health in the fourth quarter valued at approximately $228,000.

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.