Putnam Investments LLC Makes New Investment in Evolent Health, Inc. (NYSE:EVH)

Putnam Investments LLC bought a new position in Evolent Health, Inc. (NYSE:EVH – Get Rating) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 67,111 shares of the technology company’s stock, valued at approximately $2,411,000. Putnam Investments LLC owned about 0.07% of Evolent Health as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in Evolent Health in the 3rd quarter worth about $25,000. C M Bidwell & Associates Ltd. bought a new position in shares of Evolent Health during the 3rd quarter valued at about $33,000. Captrust Financial Advisors increased its position 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 valued at $54,000 after purchasing an additional 1,262 shares during the last quarter. Ameliora Wealth Management Ltd. bought a new position in shares of Evolent Health during the 3rd quarter valued at about $61,000. Finally, Quantbot Technologies LP bought a new position in shares of Evolent Health during the 3rd quarter valued at about $78,000. 93.33% of the stock is currently owned by institutional investors.

Evolent Health Stock Down 5.5 %

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

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

Insiders Place Their Bets

In other Evolent Health news, Director Frank J. Williams sold 90,356 shares of Evolent Health stock in a transaction on Monday, March 6th. The stock was sold at an average price of $34.42, for a total value of $3,110,053.52. Following the completion of the sale, the director now owns 936,123 shares of the company’s stock, valued at approximately $32,221,353.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Seth Blackley sold 73,928 shares of Evolent Health stock in a transaction on Monday, March 6th. The stock was 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 owns 878,066 shares of the company’s stock, valued at $30,223,031.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank J. Williams sold 90,356 shares of Evolent Health stock in a transaction on Monday, March 6th. The stock was sold at an average price of $34.42, for a total value of $3,110,053.52. Following the completion of the sale, the director now directly owns 936,123 shares of the company’s stock, valued at approximately $32,221,353.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 384,284 shares of company stock valued at $12,488,955. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Cowen increased 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. Cowen increased their price objective on Evolent Health from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday, November 18th. Piper Sandler raised their price target on Evolent Health from $44.00 to $51.00 in a research report on Friday, January 6th. BTIG Research raised their price target on Evolent Health from $40.00 to $45.00 in a research report on Thursday, February 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $44.00 price target on shares of Evolent Health in a research report on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.