Evolent Health, Inc. (NYSE:EVH – Get Rating)’s share price fell 7.1% during trading on Monday after StockNews.com downgraded the stock from a hold rating to a sell rating. The stock traded as low as $22.65 and last traded at $22.65. 34,355 shares traded hands during trading, a decline of 96% from the average session volume of 894,605 shares. The stock had previously closed at $24.37.
Several other equities analysts have also recently commented on EVH. JPMorgan Chase & Co. boosted their price target on shares of Evolent Health from $37.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, August 19th. BTIG Research decreased their price objective on shares of Evolent Health from $55.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, October 12th. Canaccord Genuity Group decreased their price objective on shares of Evolent Health from $55.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 12th. Royal Bank of Canada upped their price objective on shares of Evolent Health from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. Finally, Guggenheim upped their price objective on shares of Evolent Health to $45.00 in a report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.60.
Insiders Place Their Bets
In other Evolent Health news, Director Frank J. Williams sold 50,000 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $37.21, for a total transaction of $1,860,500.00. Following the completion of the transaction, the director now owns 752,434 shares of the company’s stock, valued at approximately $27,998,069.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Jonathan Weinberg sold 14,335 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $34.96, for a total transaction of $501,151.60. Following the completion of the transaction, the general counsel now owns 135,103 shares of the company’s stock, valued at $4,723,200.88. The sale 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 company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $37.21, for a total transaction of $1,860,500.00. Following the transaction, the director now directly owns 752,434 shares of the company’s stock, valued at approximately $27,998,069.14. The disclosure for this sale can be found here. Insiders sold a total of 200,269 shares of company stock valued at $6,464,110 in the last quarter. Insiders own 4.20% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors grew its stake in Evolent Health by 254.4% during the second quarter. Captrust Financial Advisors now owns 1,758 shares of the technology company’s stock worth $54,000 after buying an additional 1,262 shares during the last quarter. Ameliora Wealth Management Ltd. bought a new stake in Evolent Health during the third quarter worth about $61,000. Nisa Investment Advisors LLC grew its stake in Evolent Health by 67.9% during the first quarter. Nisa Investment Advisors LLC now owns 2,250 shares of the technology company’s stock worth $73,000 after buying an additional 910 shares during the last quarter. Quantbot Technologies LP bought a new stake in Evolent Health during the third quarter worth about $78,000. Finally, Spire Wealth Management bought a new stake in Evolent Health during the third quarter worth about $81,000. Institutional investors and hedge funds own 96.81% of the company’s stock.
Evolent Health Price Performance
The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $2.07 billion, a P/E ratio of -162.46 and a beta of 1.60. The company’s 50 day simple moving average is $34.53 and its two-hundred day simple moving average is $32.29.
Evolent Health (NYSE:EVH – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The technology company reported $0.52 EPS for the quarter. Evolent Health had a negative net margin of 1.11% and a positive return on equity of 9.58%. The business had revenue of $352.59 million for the quarter, compared to analysts’ expectations of $354.57 million. As a group, equities analysts expect that Evolent Health, Inc. will post 0.06 EPS for the current fiscal 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.