Evolent Health (NYSE:EVH) President Sells $329,460.00 in Stock

Evolent Health, Inc (NYSE:EVH) President Daniel Joseph Mccarthy sold 65,892 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $5.00, for a total value of $329,460.00. Following the completion of the sale, the president owned 655,133 shares of the company’s stock, valued at $3,275,665. This trade represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Evolent Health Stock Performance

EVH stock opened at $4.61 on Monday. The stock’s 50 day simple moving average is $4.78 and its 200 day simple moving average is $3.84. Evolent Health, Inc has a 12-month low of $2.10 and a 12-month high of $10.08. The firm has a market cap of $521.21 million, a P/E ratio of -1.01 and a beta of 0.80. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.52.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Evolent Health had a negative net margin of 24.08% and a negative return on equity of 4.27%. The firm had revenue of $484.50 million during the quarter, compared to the consensus estimate of $597.70 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The firm’s revenue was up 46.9% on a year-over-year basis. As a group, equities research analysts predict that Evolent Health, Inc will post -0.25 EPS for the current year.

Institutional Trading of Evolent Health

Several hedge funds have recently bought and sold shares of the company. R Squared Ltd bought a new position in Evolent Health in the 1st quarter worth about $26,000. CIBC Private Wealth Group LLC raised its holdings in shares of Evolent Health by 4,000.0% during the third quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock valued at $35,000 after buying an additional 4,000 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Evolent Health by 41.7% during the second quarter. California State Teachers Retirement System now owns 8,471 shares of the technology company’s stock worth $46,000 after buying an additional 2,494 shares during the period. Strs Ohio acquired a new position in shares of Evolent Health during the first quarter worth approximately $47,000. Finally, Vise Technologies Inc. bought a new position in Evolent Health in the 4th quarter worth approximately $50,000.

Analyst Upgrades and Downgrades

EVH has been the topic of several research reports. Weiss Ratings lowered shares of Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 18th. Citigroup raised Evolent Health from a “neutral” rating to a “buy” rating and lowered their target price for the company from $6.75 to $6.00 in a report on Monday, August 10th. TD Cowen increased their price target on Evolent Health from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Needham & Company LLC raised their price target on Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Evolent Health from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Tuesday, August 18th. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.96.

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.