Evolent Health, Inc. (NYSE:EVH – Get Rating)’s stock price shot up 10.9% on Friday after Cowen raised their price target on the stock from $52.00 to $57.00. The company traded as high as $26.51 and last traded at $26.46. 11,356 shares changed hands during trading, a decline of 99% from the average session volume of 1,364,625 shares. The stock had previously closed at $23.86.
A number of other equities analysts also recently weighed in on the company. Canaccord Genuity Group reduced their price target on Evolent Health from $48.00 to $44.00 in a research report on Thursday, November 3rd. Canaccord Genuity Group cut their price objective on Evolent Health from $55.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 12th. StockNews.com downgraded Evolent Health from a “hold” rating to a “sell” rating in a report on Friday, November 4th. Guggenheim increased their price objective on Evolent Health to $45.00 in a report on Monday, August 15th. Finally, Truist Financial cut their price objective on Evolent Health to $32.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $45.70.
Insider Buying and Selling at Evolent Health
In other Evolent Health news, Director Frank J. Williams sold 110,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $29.32, for a total transaction of $3,225,200.00. Following the completion of the sale, the director now owns 626,479 shares of the company’s stock, valued at approximately $18,368,364.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Evolent Health news, Director Frank J. Williams sold 110,000 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $29.32, for a total transaction of $3,225,200.00. Following the transaction, the director now owns 626,479 shares in the company, valued at approximately $18,368,364.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank J. Williams sold 50,000 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $37.21, for a total value of $1,860,500.00. Following the transaction, the director now owns 752,434 shares in the company, valued at approximately $27,998,069.14. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Fred Alger Management LLC increased its position in shares of Evolent Health by 4.0% in the third quarter. Fred Alger Management LLC now owns 2,534,726 shares of the technology company’s stock worth $91,073,000 after purchasing an additional 97,417 shares during the period. Maven Securities LTD bought a new position in shares of Evolent Health in the third quarter worth $270,000. BNP Paribas Arbitrage SNC increased its position in shares of Evolent Health by 654.3% in the third quarter. BNP Paribas Arbitrage SNC now owns 165,943 shares of the technology company’s stock worth $5,962,000 after purchasing an additional 143,943 shares during the period. State Street Corp increased its position in shares of Evolent Health by 2.5% in the third quarter. State Street Corp now owns 1,730,081 shares of the technology company’s stock worth $62,162,000 after purchasing an additional 41,711 shares during the period. Finally, Castleark Management LLC bought a new position in shares of Evolent Health in the third quarter worth $4,260,000. Institutional investors own 96.81% of the company’s stock.
Evolent Health Stock Up 12.8 %
The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $2.72 billion, a P/E ratio of -176.39 and a beta of 1.60. The stock has a 50-day moving average of $32.13 and a 200 day moving average of $31.96.
Evolent Health (NYSE:EVH – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The technology company reported $0.52 EPS for the quarter. Evolent Health had a positive return on equity of 8.83% and a negative net margin of 1.11%. The company had revenue of $352.59 million for the quarter, compared to analysts’ expectations of $354.57 million. Research analysts anticipate that Evolent Health, Inc. will post 0.6 earnings per share for the current year.
About Evolent Health
Evolent Health, Inc, a healthcare company, through its subsidiary, Evolent Health LLC, provides clinical and administrative solutions to payers and providers in the United States. It operates in two segments, Evolent Health Services and Clinical Solutions. The Evolent Health Services segment provides an integrated administrative and clinical platform for health plan administration and population health management.
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