Evolent Health, Inc. (NYSE:EVH) Short Interest Down 7.9% in August

Evolent Health, Inc. (NYSE:EVH) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 14,610,000 shares, a decline of 7.9% from the August 15th total of 15,870,000 shares. Based on an average trading volume of 2,430,000 shares, the short-interest ratio is presently 6.0 days.

Insider Buying and Selling

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the sale, the chief executive officer now owns 411,924 shares in the company, valued at $12,357,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the transaction, the chief executive officer now directly owns 411,924 shares in the company, valued at $12,357,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Jonathan Weinberg sold 42,140 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the transaction, the general counsel now directly owns 167,027 shares in the company, valued at $5,211,242.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 307,291 shares of company stock worth $9,290,385. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Evolent Health

Several large investors have recently bought and sold shares of EVH. ICA Group Wealth Management LLC bought a new position in Evolent Health during the 4th quarter valued at about $33,000. Headlands Technologies LLC bought a new position in Evolent Health during the first quarter valued at approximately $46,000. Quarry LP bought a new position in Evolent Health during the second quarter valued at approximately $32,000. NBC Securities Inc. boosted its holdings in Evolent Health by 16.6% in the first quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after purchasing an additional 350 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in Evolent Health in the 1st quarter worth approximately $88,000.

Evolent Health Stock Up 1.0 %

Shares of NYSE:EVH traded up $0.30 during trading on Wednesday, reaching $30.84. 1,207,554 shares of the stock traded hands, compared to its average volume of 1,603,101. The stock has a market cap of $3.58 billion, a P/E ratio of -24.67 and a beta of 1.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a 50-day moving average of $25.98 and a two-hundred day moving average of $26.43. Evolent Health has a 52-week low of $17.98 and a 52-week high of $35.00.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.21 by $0.09. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The business had revenue of $647.10 million for the quarter, compared to the consensus estimate of $636.46 million. During the same period last year, the business posted $0.06 EPS. The company’s revenue was up 37.9% compared to the same quarter last year. As a group, sell-side analysts expect that Evolent Health will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EVH. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Evolent Health in a research note on Monday, August 26th. Truist Financial restated a “buy” rating and set a $33.00 price target on shares of Evolent Health in a research report on Tuesday, August 27th. JMP Securities lowered their price objective on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Stephens reissued an “overweight” rating and set a $42.00 price objective on shares of Evolent Health in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.40.

Evolent Health Company Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.