Algert Global LLC Purchases New Holdings in Evolent Health, Inc. (NYSE:EVH)

Algert Global LLC acquired a new position in shares of Evolent Health, Inc. (NYSE:EVH) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,455 shares of the technology company’s stock, valued at approximately $200,000.

Other large investors have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC acquired a new stake in shares of Evolent Health during the 4th quarter valued at approximately $228,000. Wellington Management Group LLP raised its stake in Evolent Health by 96.1% during the fourth quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock worth $274,584,000 after purchasing an additional 4,073,959 shares during the period. Vanguard Group Inc. boosted its holdings in Evolent Health by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 10,821,331 shares of the technology company’s stock valued at $357,429,000 after acquiring an additional 226,691 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of Evolent Health by 16.6% in the 1st quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock valued at $81,000 after purchasing an additional 350 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in Evolent Health during the 1st quarter worth approximately $88,000.

Wall Street Analysts Forecast Growth

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

Evolent Health Trading Up 2.0 %

Shares of EVH opened at $26.80 on Friday. The business’s 50-day moving average price is $28.32 and its 200 day moving average price is $25.90. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $3.11 billion, a P/E ratio of -21.44 and a beta of 1.56. Evolent Health, Inc. has a 1-year low of $17.98 and a 1-year high of $35.00.

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. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The business had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. The firm’s revenue was up 37.9% compared to the same quarter last year. Analysts expect that Evolent Health, Inc. will post 0.86 earnings per share for the current year.

Insider Activity

In other Evolent Health news, General Counsel Jonathan Weinberg sold 42,140 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the completion of the sale, the general counsel now directly owns 167,027 shares in the company, valued at approximately $5,211,242.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Evolent Health news, General Counsel Jonathan Weinberg sold 42,140 shares of the 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 completion of the sale, the general counsel now owns 167,027 shares in the company, valued at $5,211,242.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the transaction, the chief executive officer now owns 411,924 shares in the company, valued at approximately $12,357,720. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 307,291 shares of company stock worth $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.