Engaged Capital LLC Increases Stock Holdings in Evolent Health, Inc. (NYSE:EVH)

Engaged Capital LLC lifted its stake in shares of Evolent Health, Inc. (NYSE:EVH) by 26.1% during the second quarter, HoldingsChannel reports. The firm owned 4,111,458 shares of the technology company’s stock after acquiring an additional 850,000 shares during the quarter. Evolent Health makes up 13.5% of Engaged Capital LLC’s investment portfolio, making the stock its 2nd largest position. Engaged Capital LLC’s holdings in Evolent Health were worth $78,611,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Scout Investments Inc. bought a new stake in shares of Evolent Health during the 1st quarter worth approximately $5,760,000. Zevenbergen Capital Investments LLC raised its stake in Evolent Health by 126.5% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 565,625 shares of the technology company’s stock valued at $18,547,000 after acquiring an additional 315,875 shares during the period. BNP Paribas Financial Markets raised its stake in Evolent Health by 86.7% in the 1st quarter. BNP Paribas Financial Markets now owns 99,126 shares of the technology company’s stock valued at $3,250,000 after acquiring an additional 46,024 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Evolent Health by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 717,334 shares of the technology company’s stock valued at $23,522,000 after acquiring an additional 75,376 shares during the period. Finally, Norges Bank bought a new stake in Evolent Health in the 4th quarter valued at $43,759,000.

Analysts Set New Price Targets

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

Evolent Health Stock Performance

EVH opened at $27.72 on Thursday. The firm has a market cap of $3.22 billion, a P/E ratio of -22.18 and a beta of 1.57. Evolent Health, Inc. has a 52-week low of $17.98 and a 52-week high of $35.00. 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 business’s fifty day moving average is $27.18 and its 200-day moving average is $26.31.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.09. The company had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. Evolent Health’s quarterly revenue was up 37.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. Sell-side analysts expect that Evolent Health, Inc. will post 0.86 EPS for the current fiscal year.

Insider Transactions at Evolent Health

In other news, COO Emily Ann Rafferty sold 8,861 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 $265,830.00. Following the sale, the chief operating officer now directly owns 63,408 shares of the company’s stock, valued at approximately $1,902,240. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, President Daniel Joseph Mccarthy sold 23,693 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the completion of the transaction, the president now owns 198,809 shares of the company’s stock, valued at $6,141,210.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Emily Ann Rafferty sold 8,861 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $265,830.00. Following the completion of the transaction, the chief operating officer now directly owns 63,408 shares of the company’s stock, valued at approximately $1,902,240. The disclosure for this sale can be found here. In the last three months, insiders have sold 307,291 shares of company stock valued at $9,290,385. 1.60% of the stock is owned by corporate insiders.

Evolent Health Company 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.