First Light Asset Management LLC Has $27.63 Million Holdings in Evolent Health, Inc. (NYSE:EVH)

First Light Asset Management LLC boosted its stake in Evolent Health, Inc. (NYSE:EVH) by 401.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,445,305 shares of the technology company’s stock after acquiring an additional 1,157,124 shares during the period. Evolent Health accounts for 2.4% of First Light Asset Management LLC’s portfolio, making the stock its 22nd biggest position. First Light Asset Management LLC’s holdings in Evolent Health were worth $27,634,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. ICA Group Wealth Management LLC bought a new position in shares of Evolent Health during the 4th quarter worth approximately $33,000. Headlands Technologies LLC acquired a new stake in Evolent Health in the first quarter worth $46,000. NBC Securities Inc. grew its holdings in Evolent Health by 16.6% in the first quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after purchasing an additional 350 shares during the period. Banque Cantonale Vaudoise bought a new stake in Evolent Health in the first quarter valued at $88,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Evolent Health during the second quarter valued at about $61,000.

Insider Buying and Selling at Evolent Health

In other news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction 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 owns 411,924 shares in the company, valued at approximately $12,357,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction 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 sale, the chief executive officer now owns 411,924 shares in the company, valued at $12,357,720. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John Paul Johnson sold 44,693 shares of Evolent Health stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $1,340,790.00. Following the completion of the transaction, the chief financial officer now owns 171,207 shares of the company’s stock, valued at $5,136,210. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 307,291 shares of company stock valued at $9,290,385. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Evolent Health Stock Down 3.4 %

Shares of NYSE:EVH opened at $29.98 on Tuesday. Evolent Health, Inc. has a 1 year low of $17.98 and a 1 year high of $35.00. The company has a market capitalization of $3.48 billion, a PE ratio of -23.98 and a beta of 1.57. The business has a fifty day moving average price of $26.88 and a two-hundred day moving average price of $26.33. 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 (NYSE:EVH) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, topping 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 period in the previous year, the firm earned $0.06 EPS. The firm’s quarterly revenue was up 37.9% on a year-over-year basis. Analysts forecast that Evolent Health, Inc. will post 0.86 earnings per share for the current 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.