Evolent Health, Inc. (NYSE:EVH) CEO Sells $5,637,120.00 in Stock

Evolent Health, Inc. (NYSE:EVH) CEO Seth Blackley sold 187,904 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the sale, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Evolent Health Stock Performance

Shares of EVH traded down $1.35 during midday trading on Monday, reaching $31.62. 3,049,630 shares of the stock were exchanged, compared to its average volume of 1,632,854. Evolent Health, Inc. has a twelve month low of $17.98 and a twelve month high of $35.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a market cap of $3.67 billion, a P/E ratio of -25.30 and a beta of 1.54. The stock’s 50 day simple moving average is $22.48 and its 200 day simple moving average is $26.55.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The business had revenue of $647.10 million during the quarter, compared to the consensus estimate of $636.46 million. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. Evolent Health’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. On average, sell-side analysts expect that Evolent Health, Inc. will post 0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EVH. Strs Ohio grew its holdings in shares of Evolent Health by 46.3% during the fourth quarter. Strs Ohio now owns 6,000 shares of the technology company’s stock worth $198,000 after purchasing an additional 1,900 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Evolent Health in the fourth quarter valued at approximately $236,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Evolent Health by 12.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,355 shares of the technology company’s stock valued at $771,000 after acquiring an additional 2,677 shares during the last quarter. Xponance Inc. bought a new stake in Evolent Health in the fourth quarter valued at approximately $222,000. Finally, Signaturefd LLC boosted its holdings in Evolent Health by 1,470.7% in the fourth quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock valued at $48,000 after acquiring an additional 1,353 shares during the last quarter.

Analyst Ratings Changes

EVH has been the topic of several recent research reports. JMP Securities reduced their target price on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their target price on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. Canaccord Genuity Group cut their price target on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price target on shares of Evolent Health in a research report on Monday. Finally, Truist Financial upgraded shares of Evolent Health from a “hold” rating to a “buy” rating and lifted their price objective for the company from $28.00 to $33.00 in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.40.

Evolent Health Company 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.