Creative Planning Boosts Position in Evolent Health, Inc. (NYSE:EVH)

Creative Planning raised its stake in Evolent Health, Inc. (NYSE:EVH) by 12.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 18,091 shares of the technology company’s stock after buying an additional 1,973 shares during the period. Creative Planning’s holdings in Evolent Health were worth $346,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Algert Global LLC purchased a new stake in shares of Evolent Health in the 2nd quarter worth $200,000. Ascent Group LLC raised its stake in shares of Evolent Health by 28.2% during the 2nd quarter. Ascent Group LLC now owns 26,065 shares of the technology company’s stock worth $498,000 after acquiring an additional 5,735 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Evolent Health by 387.6% in the second quarter. Mackenzie Financial Corp now owns 34,783 shares of the technology company’s stock valued at $665,000 after acquiring an additional 27,650 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Evolent Health by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 67,499 shares of the technology company’s stock worth $1,291,000 after purchasing an additional 4,572 shares in the last quarter. Finally, Engaged Capital LLC lifted its holdings in shares of Evolent Health by 26.1% during the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after purchasing an additional 850,000 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EVH. JPMorgan Chase & Co. raised 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. KeyCorp assumed coverage on shares of Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 target price on the stock. JMP Securities cut their price target on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price objective on shares of Evolent Health in a research note on Tuesday, October 8th. Finally, Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of Evolent Health in a research report on Tuesday, July 30th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $39.30.

Evolent Health Stock Performance

NYSE EVH opened at $24.96 on Friday. The firm has a market capitalization of $2.90 billion, a P/E ratio of -19.97 and a beta of 1.56. The stock has a 50-day simple moving average of $28.82 and a two-hundred day simple moving average of $25.68. 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, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $35.00.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $647.10 million during the quarter, compared to analysts’ expectations of $636.46 million. During the same period last year, the business earned $0.06 earnings per share. Evolent Health’s quarterly revenue was up 37.9% on a year-over-year basis. On average, equities analysts forecast that Evolent Health, Inc. will post 0.86 earnings per share for the current year.

Insider Activity at Evolent Health

In related news, General Counsel Jonathan Weinberg sold 42,140 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the sale, the general counsel now owns 167,027 shares in the company, valued at approximately $5,211,242.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Daniel Joseph Mccarthy sold 23,693 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total transaction of $731,876.77. Following the transaction, the president now owns 198,809 shares in the company, valued at $6,141,210.01. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the transaction, the general counsel now owns 167,027 shares of the company’s stock, valued at $5,211,242.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 307,291 shares of company stock worth $9,290,385 in the last three months. Company insiders own 1.60% of the company’s stock.

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.