The Manufacturers Life Insurance Company Has $1.29 Million Position in Evolent Health, Inc. (NYSE:EVH)

The Manufacturers Life Insurance Company raised its holdings in Evolent Health, Inc. (NYSE:EVH) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 67,499 shares of the technology company’s stock after acquiring an additional 4,572 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Evolent Health worth $1,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EVH. Engaged Capital LLC grew its holdings in Evolent Health by 26.1% during the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after acquiring an additional 850,000 shares during the period. Squarepoint Ops LLC acquired a new stake in Evolent Health during the 2nd quarter worth $439,000. First Light Asset Management LLC grew its holdings in Evolent Health by 401.5% during the 2nd quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock worth $27,634,000 after acquiring an additional 1,157,124 shares during the period. Point72 DIFC Ltd acquired a new stake in Evolent Health during the 2nd quarter worth $148,000. Finally, Marshall Wace LLP acquired a new stake in Evolent Health during the 2nd quarter worth $1,231,000.

Evolent Health Price Performance

Shares of NYSE EVH opened at $27.08 on Friday. The firm has a market cap of $3.15 billion, a PE ratio of -28.81 and a beta of 1.56. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. Evolent Health, Inc. has a 1-year low of $17.98 and a 1-year high of $35.00. The company has a fifty day moving average price of $28.41 and a 200 day moving average price of $25.86.

Evolent Health (NYSE:EVH) last announced its 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. The firm had revenue of $647.10 million during the quarter, compared to analyst estimates of $636.46 million. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The company’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. Research analysts predict that Evolent Health, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 411,924 shares of the company’s stock, valued at $12,357,720. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other Evolent Health news, President Daniel Joseph Mccarthy sold 23,693 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the sale, the president now directly owns 198,809 shares of the company’s stock, valued at $6,141,210.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction dated 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 directly owns 411,924 shares in the company, valued at $12,357,720. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

Wall Street Analyst Weigh In

A number of analysts have commented on EVH shares. Stephens reaffirmed an “overweight” rating and set a $42.00 target price on shares of Evolent Health in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their target price 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. KeyCorp began coverage on shares of Evolent Health in a report on Friday. They issued an “overweight” rating and a $35.00 price target for the company. JMP Securities decreased their price target on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. Finally, Truist Financial reissued a “buy” rating and issued a $33.00 price target on shares of Evolent Health in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.91.

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.