Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in Evolent Health, Inc. (NYSE:EVH)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Evolent Health, Inc. (NYSE:EVH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 70,617 shares of the technology company’s stock, valued at approximately $794,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its holdings in Evolent Health by 12.8% in the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after acquiring an additional 1,426,747 shares in the last quarter. Eventide Asset Management LLC raised its holdings in Evolent Health by 1.7% in the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock valued at $107,580,000 after acquiring an additional 64,985 shares in the last quarter. State Street Corp raised its holdings in Evolent Health by 1.0% in the third quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after acquiring an additional 25,967 shares in the last quarter. Bellevue Group AG raised its holdings in Evolent Health by 59.9% in the third quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock valued at $75,509,000 after acquiring an additional 1,000,215 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Evolent Health by 1,948.5% during the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after purchasing an additional 1,422,385 shares during the last quarter.

Insider Activity at Evolent Health

In other Evolent Health news, Director Brendan B. Springstubb purchased 5,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $8.75 per share, with a total value of $43,750.00. Following the acquisition, the director now owns 11,842 shares of the company’s stock, valued at $103,617.50. The trade was a 73.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Daniel Joseph Mccarthy purchased 11,040 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $9.01 per share, with a total value of $99,470.40. Following the completion of the acquisition, the president now directly owns 389,004 shares in the company, valued at $3,504,926.04. The trade was a 2.92 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 74,000 shares of company stock worth $666,315 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Evolent Health Stock Performance

Shares of EVH opened at $9.61 on Friday. The firm has a 50-day moving average price of $9.93 and a 200 day moving average price of $16.26. The firm has a market capitalization of $1.12 billion, a PE ratio of -11.72 and a beta of 1.49. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health, Inc. has a 52-week low of $8.35 and a 52-week high of $33.63.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The company had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. On average, sell-side analysts anticipate that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EVH has been the subject of several recent research reports. Truist Financial lowered their target price on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. BTIG Research lowered their target price on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Citigroup lowered their target price on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Canaccord Genuity Group lowered their target price on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price on shares of Evolent Health in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $17.71.

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.