Raymond James Financial Inc. Makes New Investment in Evolent Health, Inc. (NYSE:EVH)

Raymond James Financial Inc. bought a new stake in Evolent Health, Inc. (NYSE:EVH) in the 4th quarter, HoldingsChannel reports. The firm bought 225,995 shares of the technology company’s stock, valued at approximately $2,542,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Algert Global LLC grew its holdings in shares of Evolent Health by 120.2% in the third quarter. Algert Global LLC now owns 23,025 shares of the technology company’s stock valued at $651,000 after purchasing an additional 12,570 shares during the period. BNP Paribas Financial Markets boosted its holdings in Evolent Health by 150.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 25,469 shares of the technology company’s stock valued at $720,000 after purchasing an additional 15,299 shares during the last quarter. Bellevue Group AG grew its stake in shares of Evolent Health by 59.9% in the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock valued at $75,509,000 after buying an additional 1,000,215 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Evolent Health by 2,471.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,507 shares of the technology company’s stock worth $184,000 after buying an additional 6,254 shares during the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Evolent Health during the 3rd quarter worth approximately $6,804,000.

Insider Activity

In other Evolent Health news, Director Brendan B. Springstubb bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $8.75 per share, with a total value of $43,750.00. Following the completion of the acquisition, the director now directly owns 11,842 shares of the company’s stock, valued at $103,617.50. This represents a 73.08 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Seth Blackley purchased 55,225 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $9.01 per share, with a total value of $497,577.25. Following the completion of the acquisition, the chief executive officer now directly owns 762,217 shares in the company, valued at $6,867,575.17. The trade was a 7.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 74,000 shares of company stock worth $666,315. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial decreased their price objective on Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Citigroup decreased their price target on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Canaccord Genuity Group cut their price objective on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. JMP Securities restated a “market outperform” rating and issued a $12.00 price objective on shares of Evolent Health in a report on Friday, February 14th. Finally, Oppenheimer lowered their target price on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Evolent Health presently has an average rating of “Buy” and a consensus target price of $17.71.

Evolent Health Price Performance

Evolent Health stock opened at $9.59 on Friday. 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. The firm has a market cap of $1.12 billion, a PE ratio of -11.70 and a beta of 1.49. The company’s 50 day moving average is $9.81 and its two-hundred day moving average is $15.44.

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

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.