Voya Investment Management LLC boosted its stake in shares of Evolent Health, Inc. (NYSE:EVH – Get Rating) by 110.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 548,085 shares of the technology company’s stock after purchasing an additional 287,187 shares during the quarter. Voya Investment Management LLC owned approximately 0.54% of Evolent Health worth $15,390,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in Evolent Health by 12.7% during the 1st quarter. American Century Companies Inc. now owns 20,453 shares of the technology company’s stock worth $661,000 after acquiring an additional 2,300 shares during the period. HighTower Advisors LLC acquired a new position in Evolent Health during the 1st quarter worth $296,000. MetLife Investment Management LLC boosted its position in Evolent Health by 52.2% during the 1st quarter. MetLife Investment Management LLC now owns 44,172 shares of the technology company’s stock worth $1,427,000 after acquiring an additional 15,143 shares during the period. BlackRock Inc. boosted its position in Evolent Health by 4.9% during the 1st quarter. BlackRock Inc. now owns 6,180,992 shares of the technology company’s stock worth $199,644,000 after acquiring an additional 291,029 shares during the period. Finally, Vanguard Group Inc. boosted its position in Evolent Health by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 7,657,874 shares of the technology company’s stock worth $247,350,000 after acquiring an additional 111,882 shares during the period.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on EVH. Stephens began coverage on Evolent Health in a research report on Tuesday, April 11th. They set an “overweight” rating and a $40.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $44.00 price target on shares of Evolent Health in a research report on Thursday, February 23rd. BTIG Research boosted their price objective on Evolent Health from $40.00 to $45.00 in a research note on Thursday, February 23rd. Finally, StockNews.com started coverage on Evolent Health in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Evolent Health presently has an average rating of “Moderate Buy” and an average price target of $47.00.
Insider Transactions at Evolent Health
In other news, Director Frank J. Williams sold 110,000 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $31.83, for a total transaction of $3,501,300.00. Following the sale, the director now directly owns 819,812 shares of the company’s stock, valued at $26,094,615.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Frank J. Williams sold 110,000 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $31.83, for a total transaction of $3,501,300.00. Following the transaction, the director now directly owns 819,812 shares of the company’s stock, valued at $26,094,615.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Seth Blackley sold 2,098 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $30.16, for a total value of $63,275.68. Following the transaction, the chief executive officer now directly owns 783,011 shares in the company, valued at $23,615,611.76. The disclosure for this sale can be found here. Insiders have sold 347,463 shares of company stock valued at $11,281,209 over the last three months. Company insiders own 3.30% of the company’s stock.
Evolent Health Stock Up 0.1 %
Shares of Evolent Health stock opened at $28.64 on Wednesday. The stock’s fifty day moving average is $32.76 and its 200-day moving average is $31.41. The firm has a market capitalization of $3.23 billion, a PE ratio of -75.37 and a beta of 1.54. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.56. Evolent Health, Inc. has a 12-month low of $21.83 and a 12-month high of $39.78.
Evolent Health (NYSE:EVH – Get Rating) last announced its earnings results on Wednesday, May 3rd. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The company had revenue of $427.69 million for the quarter, compared to analyst estimates of $435.58 million. Evolent Health had a positive return on equity of 7.86% and a negative net margin of 2.28%. Equities analysts anticipate that Evolent Health, Inc. will post 0.13 earnings per share for the current year.
Evolent Health Profile
Evolent Health, Inc, a healthcare company, through its subsidiary, Evolent Health LLC, offers clinical and administrative solutions to payers and providers in the United States. The company 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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