Brevan Howard Capital Management LP Purchases New Shares in Evolent Health, Inc. (NYSE:EVH)

Brevan Howard Capital Management LP acquired a new stake in Evolent Health, Inc. (NYSE:EVH) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 54,465 shares of the technology company’s stock, valued at approximately $613,000.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Evolent Health by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock worth $125,676,000 after buying an additional 259,781 shares in the last quarter. Engaged Capital LLC increased its holdings in shares of Evolent Health by 35.5% in the fourth quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock valued at $60,804,000 after purchasing an additional 1,415,300 shares in the last quarter. Cadian Capital Management LP bought a new position in Evolent Health in the 4th quarter worth approximately $58,781,000. Dimensional Fund Advisors LP lifted its holdings in Evolent Health by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,897,443 shares of the technology company’s stock worth $32,595,000 after buying an additional 466,225 shares in the last quarter. Finally, Boston Partners boosted its position in Evolent Health by 92.0% in the 4th quarter. Boston Partners now owns 2,444,006 shares of the technology company’s stock valued at $27,097,000 after buying an additional 1,171,304 shares during the last quarter.

Insider Buying and Selling at Evolent Health

In other news, President Daniel Joseph Mccarthy purchased 11,040 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $9.01 per share, with a total value of $99,470.40. Following the completion of the transaction, the president now owns 389,004 shares of the company’s stock, valued at $3,504,926.04. The trade was a 2.92 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brendan B. Springstubb purchased 5,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $8.75 per share, with a total value of $43,750.00. Following the purchase, the director now owns 11,842 shares of the company’s stock, valued at approximately $103,617.50. The trade was a 73.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 74,000 shares of company stock worth $666,315. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Evolent Health from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of Evolent Health in a research note on Friday, February 21st. Royal Bank of Canada reduced their price objective on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Finally, Truist Financial reduced their price target on Evolent Health from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $17.71.

Evolent Health Trading Up 3.1 %

EVH opened at $10.77 on Friday. The firm’s fifty day simple moving average is $9.60 and its 200 day simple moving average is $11.72. The stock has a market capitalization of $1.26 billion, a P/E ratio of -13.13 and a beta of 1.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health, Inc. has a 12 month low of $8.35 and a 12 month high of $33.63.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The firm had revenue of $646.54 million for the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. As a group, research analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Evolent Health Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.