Virginia Retirement Systems ET AL bought a new position in shares of Evolent Health Inc. (NYSE:EVH) during the second quarter, Holdings Channel reports. The firm bought 17,300 shares of the company’s stock, valued at approximately $332,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of EVH. Vanguard Group Inc. raised its stake in Evolent Health by 7.7% in the second quarter. Vanguard Group Inc. now owns 1,015,527 shares of the company’s stock valued at $19,499,000 after buying an additional 72,454 shares in the last quarter. Systematic Financial Management LP acquired a new stake in shares of Evolent Health during the second quarter valued at $3,480,000. Nationwide Fund Advisors raised its stake in shares of Evolent Health by 8.5% in the second quarter. Nationwide Fund Advisors now owns 10,109 shares of the company’s stock valued at $194,000 after buying an additional 789 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Evolent Health by 3.7% in the second quarter. JPMorgan Chase & Co. now owns 1,338,238 shares of the company’s stock valued at $25,694,000 after buying an additional 47,773 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Evolent Health during the second quarter valued at $1,565,000. Institutional investors and hedge funds own 39.23% of the company’s stock.
Evolent Health Inc. (NYSE:EVH) opened at 25.33 on Monday. The company’s 50-day moving average is $23.80 and its 200-day moving average is $18.37. Evolent Health Inc. has a one year low of $8.14 and a one year high of $26.84. The firm’s market cap is $1.53 billion.
Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Evolent Health had a negative net margin of 76.55% and a negative return on equity of 5.04%. The company had revenue of $56.50 million for the quarter, compared to the consensus estimate of $51.96 million. During the same period last year, the company posted ($0.95) EPS. The firm’s quarterly revenue was up 443.3% compared to the same quarter last year. On average, analysts forecast that Evolent Health Inc. will post ($0.54) earnings per share for the current fiscal year.
Several brokerages have recently weighed in on EVH. Jefferies Group set a $28.00 target price on shares of Evolent Health and gave the company a “buy” rating in a research report on Tuesday, October 4th. Canaccord Genuity reissued a “buy” rating and set a $30.00 price target on shares of Evolent Health in a report on Wednesday, July 13th. Leerink Swann reissued a “buy” rating on shares of Evolent Health in a report on Wednesday, October 5th. Zacks Investment Research downgraded shares of Evolent Health from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Finally, William Blair reissued an “outperform” rating on shares of Evolent Health in a report on Friday, September 30th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. Evolent Health currently has an average rating of “Buy” and an average price target of $22.50.
In other Evolent Health news, CEO Frank J. Williams sold 251,481 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $21.54, for a total transaction of $5,416,900.74. Following the completion of the transaction, the chief executive officer now owns 1,304,799 shares in the company, valued at approximately $28,105,370.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Board Co Advisory sold 317,712 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $22.50, for a total transaction of $7,148,520.00. Following the transaction, the insider now owns 4,128,167 shares of the company’s stock, valued at approximately $92,883,757.50. The disclosure for this sale can be found here. 8.85% of the stock is currently owned by corporate insiders.
About Evolent Health
Evolent Health, Inc supports integrated health systems in their migration towards value-based care and population health management. The Company’s services include providing customers with a population management platform, integrated data and analytics capabilities, pharmacy benefit management services and health plan administration services.
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