Short Interest in Evolent Health, Inc. (NYSE:EVH) Decreases By 7.9%

Evolent Health, Inc. (NYSE:EVH) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 14,610,000 shares, a drop of 7.9% from the August 15th total of 15,870,000 shares. Based on an average trading volume of 2,430,000 shares, the days-to-cover ratio is currently 6.0 days.

Evolent Health Trading Up 1.0 %

NYSE:EVH traded up $0.31 during midday trading on Thursday, reaching $31.15. 53,630 shares of the stock traded hands, compared to its average volume of 1,594,419. The stock has a market capitalization of $3.62 billion, a P/E ratio of -24.66 and a beta of 1.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. The company has a fifty day moving average of $26.22 and a 200 day moving average of $26.46. Evolent Health has a 12 month low of $17.98 and a 12 month high of $35.00.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.21 by $0.09. The firm had revenue of $647.10 million during the quarter, compared to the consensus estimate of $636.46 million. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The company’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 earnings per share. On average, research analysts predict that Evolent Health will post 0.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EVH shares. Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of Evolent Health in a report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 target price on shares of Evolent Health in a research note on Monday, August 26th. JMP Securities dropped their price target on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Truist Financial reiterated a “buy” rating and issued a $33.00 price objective on shares of Evolent Health in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. boosted their target price on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.40.

Insider Buying and Selling

In other Evolent Health news, COO Emily Ann Rafferty sold 8,861 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $265,830.00. Following the completion of the transaction, the chief operating officer now owns 63,408 shares in the company, valued at $1,902,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the completion of the transaction, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Emily Ann Rafferty sold 8,861 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $265,830.00. Following the transaction, the chief operating officer now owns 63,408 shares of the company’s stock, valued at $1,902,240. The disclosure for this sale can be found here. In the last 90 days, insiders sold 307,291 shares of company stock valued at $9,290,385. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Evolent Health

A number of large investors have recently made changes to their positions in the business. ICA Group Wealth Management LLC bought a new position in shares of Evolent Health during the fourth quarter valued at approximately $33,000. Headlands Technologies LLC bought a new stake in shares of Evolent Health during the 1st quarter valued at about $46,000. Quarry LP purchased a new position in shares of Evolent Health during the second quarter valued at about $32,000. NBC Securities Inc. raised its stake in Evolent Health by 16.6% in the first quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after buying an additional 350 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in Evolent Health in the first quarter worth about $88,000.

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.