Daniel Joseph Mccarthy Sells 65,892 Shares of Evolent Health (NYSE:EVH) Stock

Evolent Health, Inc (NYSE:EVH) President Daniel Joseph Mccarthy sold 65,892 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $5.00, for a total value of $329,460.00. Following the transaction, the president owned 655,133 shares of the company’s stock, valued at $3,275,665. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Evolent Health Stock Performance

Shares of EVH stock opened at $4.61 on Friday. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $521.21 million, a PE ratio of -1.01 and a beta of 0.79. The stock has a 50-day moving average of $4.78 and a 200-day moving average of $3.84. Evolent Health, Inc has a one year low of $2.10 and a one year high of $10.08.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $484.50 million for the quarter, compared to analyst estimates of $597.70 million. Evolent Health had a negative net margin of 24.08% and a negative return on equity of 4.27%. Evolent Health’s quarterly revenue was up 46.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) EPS. As a group, sell-side analysts expect that Evolent Health, Inc will post -0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. TD Cowen upped their price objective on shares of Evolent Health from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Truist Financial reduced their target price on Evolent Health from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, August 12th. Weiss Ratings cut Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. increased their price target on Evolent Health from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Tuesday, August 18th. Finally, Citigroup raised Evolent Health from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $6.75 to $6.00 in a research report on Monday, August 10th. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Evolent Health currently has an average rating of “Moderate Buy” and a consensus price target of $5.96.

Institutional Investors Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently made changes to their positions in EVH. Durable Capital Partners LP acquired a new position in Evolent Health in the 2nd quarter worth $72,326,000. Rubicon Founders LLC acquired a new stake in shares of Evolent Health in the 3rd quarter valued at about $49,204,000. 8 Knots Management LLC bought a new stake in shares of Evolent Health in the second quarter valued at about $32,802,000. Goldman Sachs Group Inc. lifted its holdings in shares of Evolent Health by 162.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after purchasing an additional 1,754,520 shares in the last quarter. Finally, Maverick Capital Ltd. boosted its position in shares of Evolent Health by 1.3% during the first quarter. Maverick Capital Ltd. now owns 2,572,763 shares of the technology company’s stock worth $5,866,000 after buying an additional 32,833 shares during the period.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.