Vestcor Inc Makes New Investment in Evolent Health, Inc. (NYSE:EVH)

Vestcor Inc acquired a new position in shares of Evolent Health, Inc. (NYSE:EVH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,006 shares of the technology company’s stock, valued at approximately $113,000.

Several other large investors have also recently added to or reduced their stakes in EVH. Foundry Partners LLC acquired a new position in shares of Evolent Health during the third quarter worth approximately $10,042,000. Salem Investment Counselors Inc. lifted its position in shares of Evolent Health by 53.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock worth $3,939,000 after purchasing an additional 121,369 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Evolent Health by 7.0% during the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock worth $1,469,000 after purchasing an additional 8,552 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Evolent Health by 90.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock worth $9,036,000 after purchasing an additional 380,790 shares in the last quarter. Finally, Bellevue Group AG lifted its position in shares of Evolent Health by 59.9% during the third quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after purchasing an additional 1,000,215 shares in the last quarter.

Wall Street Analysts Forecast Growth

EVH has been the topic of a number of research reports. Stephens reduced 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. Piper Sandler reiterated an “overweight” rating and set a $16.00 target price (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. JPMorgan Chase & Co. cut their price objective on shares of Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Truist Financial cut their price objective on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, Canaccord Genuity Group cut their price objective on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Evolent Health currently has an average rating of “Buy” and an average price target of $17.71.

Insider Transactions at Evolent Health

In related news, Director Diane Holder acquired 2,735 shares of the stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $9.33 per share, with a total value of $25,517.55. Following the completion of the transaction, the director now directly owns 70,584 shares of the company’s stock, valued at approximately $658,548.72. The trade was a 4.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brendan B. Springstubb acquired 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $8.75 per share, with a total value of $43,750.00. Following the transaction, the director now directly owns 11,842 shares of the company’s stock, valued at $103,617.50. This represents a 73.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 74,000 shares of company stock valued at $666,315 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Evolent Health Trading Up 1.6 %

EVH opened at $10.15 on Wednesday. The firm’s fifty day moving average is $10.09 and its two-hundred day moving average is $16.51. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $1.18 billion, a PE ratio of -12.37 and a beta of 1.49. Evolent Health, Inc. has a twelve month low of $8.35 and a twelve month high of $33.63.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $650.92 million. Equities research analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.

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.