William Blair Investment Management LLC Increases Stake in Evolent Health, Inc. (NYSE:EVH)

William Blair Investment Management LLC boosted its stake in Evolent Health, Inc. (NYSE:EVH) by 35.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,026,043 shares of the technology company’s stock after purchasing an additional 1,308,376 shares during the quarter. William Blair Investment Management LLC owned about 4.32% of Evolent Health worth $96,098,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of EVH. Vanguard Group Inc. boosted its holdings in shares of Evolent Health by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock valued at $357,905,000 after purchasing an additional 93,739 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Evolent Health by 96.1% in the 4th quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock worth $274,584,000 after buying an additional 4,073,959 shares during the period. RA Capital Management L.P. boosted its holdings in Evolent Health by 125.0% in 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 last quarter. Point72 Asset Management L.P. grew its position in Evolent Health by 81.3% during the fourth quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock valued at $88,355,000 after acquiring an additional 1,199,400 shares during the period. Finally, Hood River Capital Management LLC increased its stake in Evolent Health by 6.6% during the first quarter. Hood River Capital Management LLC now owns 2,207,037 shares of the technology company’s stock worth $72,369,000 after acquiring an additional 137,004 shares during the last quarter.

Insider Buying and Selling at Evolent Health

In other news, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the completion of the sale, the chief executive officer now owns 411,924 shares of the company’s stock, valued at $12,357,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total value of $1,314,768.00. Following the completion of the sale, the general counsel now owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Seth Blackley sold 187,904 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the transaction, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. The disclosure for this sale can be found here. Insiders have sold a total of 307,291 shares of company stock valued at $9,290,385 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

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

Evolent Health Stock Performance

Evolent Health stock opened at $30.11 on Friday. Evolent Health, Inc. has a 12-month low of $17.98 and a 12-month high of $35.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of -24.09 and a beta of 1.57. The firm’s fifty day moving average price is $25.54 and its 200 day moving average price is $26.58.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The business had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The company’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. On average, research analysts forecast that Evolent Health, Inc. will post 0.86 EPS for the current fiscal year.

Evolent Health Company Profile

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.