Lockheed Martin Investment Management Co. purchased a new stake in Evolent Health Inc (NYSE:EVH) during the first quarter, Holdings Channel reports. The fund purchased 55,000 shares of the technology company’s stock, valued at approximately $1,226,000.
Several other large investors also recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in Evolent Health by 0.3% in the first quarter. US Bancorp DE now owns 5,654 shares of the technology company’s stock valued at $126,000 after buying an additional 19 shares in the last quarter. Bank of Montreal Can boosted its stake in Evolent Health by 4,249.7% in the first quarter. Bank of Montreal Can now owns 6,220 shares of the technology company’s stock valued at $138,000 after buying an additional 6,077 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Evolent Health by 286.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,744 shares of the technology company’s stock valued at $150,000 after buying an additional 5,000 shares in the last quarter. Parametric Portfolio Associates LLC bought a new stake in Evolent Health during the first quarter valued at about $213,000. Finally, Pacad Investment Ltd. bought a new stake in Evolent Health during the fourth quarter valued at about $165,000. 52.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of Evolent Health Inc (NYSE:EVH) traded up 1.29% during mid-day trading on Friday, hitting $23.55. 839,302 shares of the company were exchanged. The stock’s 50-day moving average price is $22.98 and its 200 day moving average price is $19.68. Evolent Health Inc has a 12-month low of $13.37 and a 12-month high of $26.84. The stock’s market cap is $1.36 billion.
Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Tuesday, May 9th. The technology company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.11. Evolent Health had a negative return on equity of 5.54% and a negative net margin of 69.04%. The business had revenue of $106.80 million for the quarter, compared to analyst estimates of $104.38 million. During the same quarter last year, the firm earned ($0.16) earnings per share. The firm’s quarterly revenue was up 116.2% compared to the same quarter last year. On average, equities analysts anticipate that Evolent Health Inc will post ($0.41) EPS for the current fiscal year.
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Several research firms recently issued reports on EVH. Canaccord Genuity reissued a “buy” rating and issued a $31.00 target price on shares of Evolent Health in a research report on Friday, February 3rd. Zacks Investment Research raised shares of Evolent Health from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Friday, January 20th. Cantor Fitzgerald restated a “buy” rating and issued a $26.00 price target on shares of Evolent Health in a report on Wednesday, March 1st. Leerink Swann set a $24.00 price target on shares of Evolent Health and gave the company a “buy” rating in a report on Tuesday, February 28th. Finally, CIBC assumed coverage on shares of Evolent Health in a report on Tuesday, March 14th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $27.67.
In other news, CFO Nicholas Mcgrane sold 7,034 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $22.50, for a total transaction of $158,265.00. Following the completion of the transaction, the chief financial officer now directly owns 137,414 shares in the company, valued at $3,091,815. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Thomas Peterson III sold 83,108 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $24.99, for a total value of $2,076,868.92. Following the transaction, the chief operating officer now owns 341,092 shares of the company’s stock, valued at $8,523,889.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,429,363 shares of company stock valued at $106,975,203. Corporate insiders own 8.85% of the company’s stock.
About Evolent Health
Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.
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