BlackRock Inc. Acquires 1,115,264 Shares of Evolent Health, Inc. (NYSE:EVH)

BlackRock Inc. lifted its holdings in Evolent Health, Inc. (NYSE:EVH – Get Rating) by 17.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,462,564 shares of the technology company’s stock after purchasing an additional 1,115,264 shares during the quarter. BlackRock Inc. owned 7.37% of Evolent Health worth $268,129,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in EVH. Altshuler Shaham Ltd bought a new stake in shares of Evolent Health during the 3rd quarter worth approximately $25,000. C M Bidwell & Associates Ltd. bought a new position in shares of Evolent Health in the 3rd quarter valued at about $33,000. Captrust Financial Advisors increased its stake in shares of Evolent Health by 254.4% during the 2nd quarter. Captrust Financial Advisors now owns 1,758 shares of the technology company’s stock worth $54,000 after purchasing an additional 1,262 shares during the last quarter. Ameliora Wealth Management Ltd. acquired a new stake in Evolent Health in the 3rd quarter valued at about $61,000. Finally, Quantbot Technologies LP bought a new position in Evolent Health during the third quarter worth about $78,000. Institutional investors and hedge funds own 93.33% of the company’s stock.

Insider Activity at Evolent Health

In other Evolent Health news, CEO Seth Blackley sold 73,928 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $34.42, for a total transaction of $2,544,601.76. Following the sale, the chief executive officer now directly owns 878,066 shares in the company, valued at $30,223,031.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Frank J. Williams sold 110,000 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $34.98, for a total transaction of $3,847,800.00. Following the completion of the sale, the director now directly owns 626,479 shares in the company, valued at approximately $21,914,235.42. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Seth Blackley sold 73,928 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $34.42, for a total value of $2,544,601.76. Following the completion of the sale, the chief executive officer now directly owns 878,066 shares in the company, valued at $30,223,031.72. The disclosure for this sale can be found here. Insiders sold a total of 384,284 shares of company stock valued at $12,488,955 over the last quarter. 4.20% of the stock is owned by corporate insiders.

Evolent Health Stock Down 5.5 %

NYSE EVH opened at $30.98 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.48. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -154.90 and a beta of 1.56. The company has a 50 day moving average of $31.76 and a 200-day moving average of $31.41. Evolent Health, Inc. has a 1-year low of $21.83 and a 1-year high of $39.78.

Evolent Health (NYSE:EVH – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The technology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The company had revenue of $382.43 million for the quarter, compared to the consensus estimate of $373.68 million. Evolent Health had a positive return on equity of 7.50% and a negative net margin of 1.42%. On average, equities research analysts expect that Evolent Health, Inc. will post 0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EVH shares. Cowen raised their price objective on Evolent Health from $57.00 to $59.00 and gave the company an “outperform” rating in a research report on Monday, January 30th. Piper Sandler lifted their price objective on shares of Evolent Health from $44.00 to $51.00 in a research report on Friday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $44.00 price objective on shares of Evolent Health in a research report on Thursday, February 23rd. Truist Financial reduced their target price on shares of Evolent Health to $32.00 in a report on Thursday, November 17th. Finally, Cowen increased their price target on shares of Evolent Health from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, November 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.70.

About Evolent Health

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Evolent Health, Inc engages in the provision of health care delivery and payment services. It deals with population health management, health plan and third party administration, network performance and pharmacy benefit management, risk adjustment, analytics and performance improvement, and technology and electronic medical record integration.