Point72 DIFC Ltd Invests $148,000 in Evolent Health, Inc. (NYSE:EVH)

Point72 DIFC Ltd purchased a new stake in Evolent Health, Inc. (NYSE:EVH) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 7,725 shares of the technology company’s stock, valued at approximately $148,000.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Evolent Health by 10.4% during the fourth quarter. Principal Financial Group Inc. now owns 12,716 shares of the technology company’s stock worth $420,000 after purchasing an additional 1,202 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Evolent Health by 11.9% during the 4th quarter. Hsbc Holdings PLC now owns 107,155 shares of the technology company’s stock worth $3,544,000 after purchasing an additional 11,372 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Evolent Health by 81.3% in 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 Evolent Health during the fourth quarter worth about $2,699,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in Evolent Health during the fourth quarter worth about $228,000.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EVH. JPMorgan Chase & Co. upped their price target on shares of Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price objective on shares of Evolent Health in a research report on Monday, August 26th. Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Evolent Health in a report on Tuesday, July 30th. JMP Securities dropped their price objective on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Finally, Truist Financial reissued a “buy” rating and set a $33.00 target price on shares of Evolent Health in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Evolent Health has an average rating of “Moderate Buy” and a consensus price target of $40.40.

Evolent Health Stock Down 4.3 %

Shares of Evolent Health stock opened at $27.06 on Wednesday. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -21.65 and a beta of 1.57. The stock’s 50-day moving average is $27.84 and its 200 day moving average is $26.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08. Evolent Health, Inc. has a one year low of $17.98 and a one year high of $35.00.

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

Insider Buying and Selling

In related news, General Counsel Jonathan Weinberg sold 42,140 shares of Evolent Health stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total value of $1,314,768.00. Following the completion of the sale, the general counsel now owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, President Daniel Joseph Mccarthy sold 23,693 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total value of $731,876.77. Following the transaction, the president now owns 198,809 shares in the company, valued at $6,141,210.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Jonathan Weinberg sold 42,140 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total value of $1,314,768.00. Following the transaction, the general counsel now directly owns 167,027 shares in the company, valued at approximately $5,211,242.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 307,291 shares of company stock valued at $9,290,385. 1.60% of the stock is 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.