Jonathan Weinberg Sells 42,140 Shares of Evolent Health, Inc. (NYSE:EVH) Stock

Evolent Health, Inc. (NYSE:EVH) General Counsel Jonathan Weinberg sold 42,140 shares of Evolent Health stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total value of $1,314,768.00. Following the completion of the transaction, the general counsel now owns 167,027 shares in the company, valued at $5,211,242.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Evolent Health Price Performance

Shares of NYSE:EVH opened at $30.85 on Thursday. Evolent Health, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $35.00. The business has a 50-day moving average of $23.05 and a two-hundred day moving average of $26.59. The stock has a market capitalization of $3.59 billion, a P/E ratio of -24.68 and a beta of 1.54. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.

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

Hedge Funds Weigh In On Evolent Health

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Evolent Health by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock worth $357,905,000 after purchasing an additional 93,739 shares during the last quarter. Wellington Management Group LLP increased its stake in Evolent Health by 96.1% during the fourth quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock valued at $274,584,000 after acquiring an additional 4,073,959 shares during the period. RA Capital Management L.P. increased its stake in Evolent Health by 125.0% during the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock valued at $188,088,000 after acquiring an additional 3,187,000 shares during the period. William Blair Investment Management LLC increased its stake in Evolent Health by 35.2% during the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after acquiring an additional 1,308,376 shares during the period. Finally, Engaged Capital LLC increased its stake in Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after acquiring an additional 850,000 shares during the period.

Analysts Set New Price Targets

EVH has been the topic of a number of recent research reports. Stephens restated an “overweight” rating and issued a $42.00 target price on shares of Evolent Health in a report on Tuesday, July 30th. Truist Financial restated a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a report on Tuesday. Canaccord Genuity Group decreased their target price on Evolent Health from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, May 10th. JPMorgan Chase & Co. lifted their price target on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Finally, JMP Securities lowered their price target on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.40.

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.