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

Creative Planning lifted its position in Evolent Health, Inc. (NYSE:EVH) by 139.1% during the 3rd quarter, Holdings Channel reports. The firm owned 43,262 shares of the technology company’s stock after acquiring an additional 25,171 shares during the period. Creative Planning’s holdings in Evolent Health were worth $1,223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Evolent Health by 3.2% in the second quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock worth $298,000 after purchasing an additional 480 shares during the last quarter. Ascent Group LLC grew its holdings in shares of Evolent Health by 2.8% in the first quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock worth $667,000 after purchasing an additional 550 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of Evolent Health by 6.3% in the second quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock worth $195,000 after purchasing an additional 600 shares during the last quarter. American International Group Inc. grew its holdings in shares of Evolent Health by 1.2% in the first quarter. American International Group Inc. now owns 55,402 shares of the technology company’s stock worth $1,817,000 after purchasing an additional 640 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Evolent Health by 2.3% in the second quarter. Arizona State Retirement System now owns 29,083 shares of the technology company’s stock valued at $556,000 after acquiring an additional 649 shares in the last quarter.

Insider Buying and Selling at Evolent Health

In related news, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the completion of the transaction, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the completion of the transaction, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s 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 owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. This trade 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. 1.60% of the stock is currently owned by company insiders.

Evolent Health Price Performance

Shares of NYSE:EVH opened at $24.20 on Thursday. Evolent Health, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $35.00. The business has a 50-day simple moving average of $28.17 and a two-hundred day simple moving average of $25.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -19.36 and a beta of 1.56.

Evolent Health (NYSE:EVH) last released its quarterly 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. The business had revenue of $647.10 million during the quarter, compared to the consensus estimate of $636.46 million. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The business’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 EPS. On average, analysts expect that Evolent Health, Inc. will post 0.84 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Citigroup cut their price target on shares of Evolent Health from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday. KeyCorp started coverage on Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective for the company. JMP Securities lowered 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. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price objective on shares of Evolent Health in a research report on Tuesday, October 8th. Finally, Stephens reaffirmed an “overweight” rating and issued 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $38.60.

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.