Evolent Health, Inc. (NYSE:EVH) Shares Purchased by Royce & Associates LP

Royce & Associates LP grew its holdings in shares of Evolent Health, Inc. (NYSE:EVH) by 130.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 576,200 shares of the technology company’s stock after purchasing an additional 326,200 shares during the quarter. Royce & Associates LP owned approximately 0.49% of Evolent Health worth $6,482,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in Evolent Health by 268.0% during the third quarter. Principal Financial Group Inc. now owns 57,382 shares of the technology company’s stock worth $1,623,000 after purchasing an additional 41,788 shares during the period. Atria Investments Inc purchased a new stake in shares of Evolent Health during the 3rd quarter valued at approximately $208,000. State of New Jersey Common Pension Fund D acquired a new position in Evolent Health in the third quarter valued at approximately $1,774,000. Oppenheimer & Co. Inc. purchased a new position in Evolent Health in the third quarter worth approximately $855,000. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in Evolent Health during the third quarter worth $262,000.

Evolent Health Price Performance

Shares of NYSE EVH opened at $10.15 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -12.37 and a beta of 1.49. The stock’s 50-day moving average is $10.09 and its two-hundred day moving average is $16.51. Evolent Health, Inc. has a 1-year low of $8.35 and a 1-year high of $33.63.

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

Insider Activity

In other Evolent Health news, Director Diane Holder purchased 2,735 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the completion of the purchase, the director now directly owns 70,584 shares in the company, valued at approximately $658,548.72. This represents a 4.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Seth Blackley acquired 55,225 shares of the stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $9.01 per share, with a total value of $497,577.25. Following the completion of the transaction, the chief executive officer now owns 762,217 shares in the company, valued at approximately $6,867,575.17. This represents a 7.81 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 74,000 shares of company stock worth $666,315. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

EVH has been the topic of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 price target (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Stephens decreased their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. BTIG Research dropped their price target on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Citigroup decreased their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Oppenheimer dropped their target price on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 24th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $17.71.

About Evolent Health

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.