BlackRock Inc. grew its position in shares of Evolent Health, Inc. (NYSE:EVH – Get Rating) by 17.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 about 0.07% of Evolent Health worth $268,129,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new position in Evolent Health in the third quarter valued at $25,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Evolent Health in the 3rd quarter valued at about $33,000. Captrust Financial Advisors boosted 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 in the last quarter. Ameliora Wealth Management Ltd. bought a new stake in Evolent Health in the third quarter worth approximately $61,000. Finally, Quantbot Technologies LP acquired a new position in Evolent Health in the third quarter valued at approximately $78,000. 93.33% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, Director Frank J. Williams sold 110,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were 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 owns 626,479 shares in the company, valued at $21,914,235.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Seth Blackley sold 73,928 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $34.42, for a total transaction of $2,544,601.76. Following the completion of the transaction, the chief executive officer now owns 878,066 shares in the company, valued at approximately $30,223,031.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank J. Williams sold 110,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $34.98, for a total value of $3,847,800.00. Following the completion of the sale, the director now owns 626,479 shares in the company, valued at $21,914,235.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 384,284 shares of company stock valued at $12,488,955. Insiders own 4.20% of the company’s stock.
Evolent Health Price Performance
Evolent Health (NYSE:EVH – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Evolent Health had a positive return on equity of 7.50% and a negative net margin of 1.42%. The firm had revenue of $382.43 million during the quarter, compared to the consensus estimate of $373.68 million. As a group, analysts anticipate that Evolent Health, Inc. will post 0.23 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages have recently commented on EVH. Piper Sandler raised their price objective on shares of Evolent Health from $44.00 to $51.00 in a research report on Friday, January 6th. Truist Financial decreased their price target on shares of Evolent Health to $32.00 in a research note on Thursday, November 17th. Royal Bank of Canada reissued an “outperform” rating and set a $44.00 price objective on shares of Evolent Health in a research report on Thursday, February 23rd. Cowen boosted their target price on Evolent Health from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday, November 18th. Finally, Cowen increased their price target on Evolent Health from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, January 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.70.
About Evolent Health
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.
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