Evolent Health (NYSE:EVH) Trading 15.7% Higher Following Insider Buying Activity

Evolent Health Inc (NYSE:EVH) was up 15.7% during mid-day trading on Friday following insider buying activity. The company traded as high as $7.77 and last traded at $7.73, approximately 3,621,011 shares changed hands during mid-day trading. An increase of 150% from the average daily volume of 1,446,991 shares. The stock had previously closed at $6.68.

Specifically, President Seth Blackley purchased 14,749 shares of the stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price of $6.68 per share, with a total value of $98,523.32. 4.50% of the stock is owned by insiders.

EVH has been the subject of several recent analyst reports. SunTrust Banks reissued a “buy” rating and set a $14.00 price objective on shares of Evolent Health in a report on Wednesday. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $10.15 target price on shares of Evolent Health in a research note on Wednesday, November 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price (down from $16.00) on shares of Evolent Health in a research note on Wednesday, November 27th. Finally, KeyCorp dropped their target price on shares of Evolent Health from $20.00 to $10.00 and set an “overweight” rating for the company in a research report on Monday, December 2nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $13.30.

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.27. The stock has a 50-day simple moving average of $8.39 and a two-hundred day simple moving average of $8.11. The firm has a market cap of $654.03 million, a PE ratio of -22.09 and a beta of 1.04.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. The firm had revenue of $220.14 million during the quarter, compared to analysts’ expectations of $217.90 million. Evolent Health had a negative return on equity of 6.93% and a negative net margin of 15.02%. The company’s revenue for the quarter was up 46.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) EPS. Research analysts expect that Evolent Health Inc will post -0.95 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in EVH. Aperio Group LLC purchased a new stake in Evolent Health in the second quarter worth approximately $40,000. CWM LLC boosted its stake in shares of Evolent Health by 149.7% in the 2nd quarter. CWM LLC now owns 334,839 shares of the technology company’s stock valued at $2,662,000 after purchasing an additional 200,738 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Evolent Health by 94.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 12,061 shares of the technology company’s stock valued at $95,000 after purchasing an additional 5,856 shares during the last quarter. White Pine Investment CO grew its holdings in shares of Evolent Health by 5.6% during the 2nd quarter. White Pine Investment CO now owns 171,365 shares of the technology company’s stock valued at $1,362,000 after purchasing an additional 9,065 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Evolent Health by 22.5% during the 2nd quarter. Swiss National Bank now owns 131,200 shares of the technology company’s stock valued at $1,043,000 after purchasing an additional 24,100 shares during the last quarter.

About Evolent Health (NYSE:EVH)

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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