Board Co Advisory Sells 1,936,529 Shares of Evolent Health Inc. (EVH) Stock
Evolent Health Inc. (NYSE:EVH) major shareholder Board Co Advisory sold 1,936,529 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $22.50, for a total value of $43,571,902.50. Following the completion of the sale, the insider now directly owns 4,445,879 shares of the company’s stock, valued at $100,032,277.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Evolent Health Inc. (NYSE:EVH) opened at 22.91 on Monday. The firm’s market capitalization is $1.38 billion. The firm has a 50-day moving average price of $24.49 and a 200-day moving average price of $16.79. Evolent Health Inc. has a 52 week low of $8.14 and a 52 week high of $26.84.
Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.04. The company had revenue of $56.50 million for the quarter, compared to the consensus estimate of $51.96 million. Evolent Health had a negative return on equity of 5.04% and a negative net margin of 76.55%. The firm’s revenue was up 443.3% compared to the same quarter last year. During the same period last year, the business posted ($0.95) earnings per share. Equities analysts forecast that Evolent Health Inc. will post ($0.54) EPS for the current year.
Several brokerages recently weighed in on EVH. Canaccord Genuity reissued a “buy” rating and issued a $30.00 price objective on shares of Evolent Health in a report on Sunday, August 7th. FBR & Co boosted their price objective on Evolent Health from $16.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, July 13th. Jefferies Group began coverage on Evolent Health in a report on Tuesday, July 26th. They issued a “buy” rating and a $28.00 price objective for the company. Finally, Leerink Swann reissued an “outperform” rating and issued a $20.00 price objective on shares of Evolent Health in a report on Sunday, July 17th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $22.50.
Several large investors have recently modified their holdings of EVH. EAM Investors LLC acquired a new stake in shares of Evolent Health during the second quarter valued at about $3,971,000. Emerald Acquisition Ltd. acquired a new stake in shares of Evolent Health during the second quarter valued at about $1,301,000. Swiss National Bank increased its stake in shares of Evolent Health by 90.2% in the second quarter. Swiss National Bank now owns 32,900 shares of the company’s stock valued at $632,000 after buying an additional 15,600 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Evolent Health by 14.0% in the second quarter. California State Teachers Retirement System now owns 31,915 shares of the company’s stock valued at $613,000 after buying an additional 3,912 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Evolent Health by 14.2% in the second quarter. Bank of New York Mellon Corp now owns 341,806 shares of the company’s stock valued at $6,563,000 after buying an additional 42,414 shares in the last quarter. 42.07% of the stock is currently owned by institutional investors.
Evolent Health Company Profile
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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