Evolent Health, Inc. (NYSE:EVH) Short Interest Down 10.8% in September

Evolent Health, Inc. (NYSE:EVH) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 12,530,000 shares, a decrease of 10.8% from the September 15th total of 14,040,000 shares. Based on an average daily trading volume, of 2,340,000 shares, the short-interest ratio is presently 5.4 days.

Insider Transactions at Evolent Health

In other news, President Daniel Joseph Mccarthy sold 23,693 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total transaction of $731,876.77. Following the completion of the transaction, the president now directly owns 198,809 shares of the company’s stock, valued at $6,141,210.01. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Emily Ann Rafferty sold 8,861 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 directly owns 63,408 shares of the company’s stock, valued at approximately $1,902,240. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the completion of the transaction, the president now owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 307,291 shares of company stock valued at $9,290,385 over the last three months. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Evolent Health

Hedge funds have recently added to or reduced their stakes in the stock. Scout Investments Inc. acquired a new position in shares of Evolent Health in the 1st quarter valued at approximately $5,760,000. Zevenbergen Capital Investments LLC lifted its stake in Evolent Health by 126.5% during the first quarter. Zevenbergen Capital Investments LLC now owns 565,625 shares of the technology company’s stock worth $18,547,000 after purchasing an additional 315,875 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Evolent Health by 86.7% in the 1st quarter. BNP Paribas Financial Markets now owns 99,126 shares of the technology company’s stock valued at $3,250,000 after purchasing an additional 46,024 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Evolent Health by 11.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 717,334 shares of the technology company’s stock worth $23,522,000 after buying an additional 75,376 shares in the last quarter. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Evolent Health during the 2nd quarter worth $2,705,000.

Evolent Health Stock Performance

Shares of EVH traded down $1.57 during midday trading on Thursday, reaching $24.96. 3,150,753 shares of the stock were exchanged, compared to its average volume of 1,613,090. The stock’s 50 day simple moving average is $28.82 and its 200 day simple moving average is $25.68. The company has a market cap of $2.90 billion, a P/E ratio of -19.97 and a beta of 1.56. Evolent Health has a twelve month low of $17.98 and a twelve month high of $35.00. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The business 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 company earned $0.06 EPS. The business’s revenue was up 37.9% on a year-over-year basis. On average, sell-side analysts expect that Evolent Health will post 0.86 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on EVH. KeyCorp initiated coverage on shares of Evolent Health in a research note on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price for the company. Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Evolent Health in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price target on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price objective on shares of Evolent Health in a research note on Tuesday, October 8th. Finally, JMP Securities reduced their target price 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. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $39.30.

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.