FORA Capital LLC Acquires Shares of 56,739 Evolent Health, Inc. (NYSE:EVH)

FORA Capital LLC bought a new position in shares of Evolent Health, Inc. (NYSE:EVH) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 56,739 shares of the technology company’s stock, valued at approximately $638,000.

Several other large investors have also made changes to their positions in EVH. Salem Investment Counselors Inc. boosted its stake in shares of Evolent Health by 53.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock valued at $3,939,000 after purchasing an additional 121,369 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Evolent Health by 7.0% during the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock worth $1,469,000 after purchasing an additional 8,552 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Evolent Health by 90.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock valued at $9,036,000 after purchasing an additional 380,790 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Evolent Health by 40.8% during the 3rd quarter. Franklin Resources Inc. now owns 909,776 shares of the technology company’s stock worth $24,682,000 after buying an additional 263,815 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Evolent Health in the fourth quarter valued at approximately $2,542,000.

Analysts Set New Price Targets

EVH has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on shares of Evolent Health from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. JMP Securities restated a “market outperform” rating and issued a $13.00 price target on shares of Evolent Health in a report on Monday, April 28th. Canaccord Genuity Group cut their price target on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Evolent Health from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, Royal Bank of Canada reduced their target price on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, January 14th. One investment 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 data from MarketBeat.com, Evolent Health has a consensus rating of “Buy” and an average price target of $17.79.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $9.05 on Friday. Evolent Health, Inc. has a 52 week low of $8.35 and a 52 week high of $33.63. The stock has a market capitalization of $1.06 billion, a PE ratio of -11.04 and a beta of 1.04. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50 day moving average price of $9.61 and a 200 day moving average price of $11.63.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The firm had revenue of $483.65 million for the quarter, compared to analyst estimates of $460.15 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. Evolent Health’s quarterly revenue was down 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Evolent Health

In related news, Director Brendan B. Springstubb bought 5,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the purchase, the director now owns 11,842 shares in the company, valued at $103,617.50. This represents a 73.08 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Seth Blackley purchased 55,225 shares of the stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the acquisition, the chief executive officer now owns 762,217 shares in the company, valued at approximately $6,867,575.17. This trade represents a 7.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 74,000 shares of company stock worth $666,315 over the last 90 days. Company insiders own 1.60% of the company’s stock.

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.