Evolent Health (NYSE:EVH) Shares Up 15.7% After Insider Buying Activity

Evolent Health Inc (NYSE:EVH)’s stock price shot up 15.7% during mid-day trading on Friday following insider buying activity. The stock traded as high as $7.77 and last traded at $7.73, 3,621,011 shares changed hands during mid-day trading. An increase of 150% from the average session volume of 1,446,991 shares. The stock had previously closed at $6.68.

Specifically, President Seth Blackley acquired 14,749 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average price of $6.68 per share, with a total value of $98,523.32. Insiders own 4.50% of the company’s stock.

EVH has been the subject of a number of analyst reports. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $10.15 target price on shares of Evolent Health in a research note on Wednesday, November 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target (down from $16.00) on shares of Evolent Health in a research report on Wednesday, November 27th. KeyCorp cut their price target on Evolent Health from $20.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, December 2nd. They noted that the move was a valuation call. Finally, SunTrust Banks restated a “buy” rating and issued a $14.00 price target on shares of Evolent Health in a research note on Wednesday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Evolent Health currently has a consensus rating of “Buy” and a consensus target price of $13.30.

The company has a market cap of $654.03 million, a P/E ratio of -22.09 and a beta of 1.04. The stock’s 50 day moving average is $8.39 and its 200-day moving average is $8.11. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.27.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. The business had revenue of $220.14 million during the quarter, compared to analyst estimates of $217.90 million. Evolent Health had a negative net margin of 15.02% and a negative return on equity of 6.93%. Evolent Health’s revenue was up 46.8% compared to the same quarter last year. During the same period last year, the business earned ($0.04) EPS. As a group, sell-side analysts forecast that Evolent Health Inc will post -0.95 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Aperio Group LLC purchased a new stake in shares of Evolent Health during the second quarter valued at approximately $40,000. ETRADE Capital Management LLC bought a new position in Evolent Health in the 2nd quarter valued at approximately $80,000. DekaBank Deutsche Girozentrale boosted its stake in Evolent Health by 94.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 12,061 shares of the technology company’s stock valued at $95,000 after purchasing an additional 5,856 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in Evolent Health by 38.4% during the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 15,500 shares of the technology company’s stock valued at $123,000 after purchasing an additional 4,300 shares during the last quarter. Finally, NumerixS Investment Technologies Inc purchased a new stake in Evolent Health during the 2nd quarter valued at $125,000.

Evolent Health Company Profile (NYSE:EVH)

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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