Insider Selling: Evolent Health Inc. (EVH) President Sells $3,611,654.88 in Stock
Evolent Health Inc. (NYSE:EVH) President Seth Blackley sold 167,672 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $21.54, for a total value of $3,611,654.88. Following the transaction, the president now directly owns 869,848 shares in the company, valued at approximately $18,736,525.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Evolent Health Inc. (NYSE:EVH) opened at 22.47 on Wednesday. Evolent Health Inc. has a one year low of $8.14 and a one year high of $26.84. The stock’s market cap is $1.35 billion. The firm has a 50-day moving average price of $24.31 and a 200-day moving average price of $17.23.
Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, August 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $56.50 million for the quarter, compared to analyst estimates of $51.96 million. Evolent Health had a negative net margin of 76.55% and a negative return on equity of 5.04%. The company’s revenue for the quarter was up 443.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.95) EPS. Analysts anticipate that Evolent Health Inc. will post ($0.54) earnings per share for the current fiscal year.
EVH has been the topic of a number of research reports. Canaccord Genuity reissued a “buy” rating and set a $30.00 price target on shares of Evolent Health in a report on Sunday, September 11th. Leerink Swann reissued an “outperform” rating and set a $20.00 price target on shares of Evolent Health in a report on Sunday, July 17th. Jefferies Group initiated coverage on Evolent Health in a report on Tuesday, July 26th. They set a “buy” rating and a $28.00 price target on the stock. Finally, FBR & Co raised their price target on Evolent Health from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $22.50.
Several large investors have recently modified their holdings of EVH. EAM Investors LLC bought a new stake in shares of Evolent Health during the second quarter worth about $3,971,000. Emerald Acquisition Ltd. bought a new stake in shares of Evolent Health during the second quarter worth about $1,301,000. Swiss National Bank raised 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 worth $632,000 after buying an additional 15,600 shares during the period. California State Teachers Retirement System raised 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 worth $613,000 after buying an additional 3,912 shares during the period. Finally, Bank of New York Mellon Corp raised 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 worth $6,563,000 after buying an additional 42,414 shares during the period. Institutional investors and hedge funds own 41.96% of the company’s stock.
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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