Oppenheimer & Co. Inc. Invests $855,000 in Evolent Health, Inc. (NYSE:EVH)

Oppenheimer & Co. Inc. bought a new stake in shares of Evolent Health, Inc. (NYSE:EVH) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 30,222 shares of the technology company’s stock, valued at approximately $855,000.

Other hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd raised its holdings in shares of Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after buying an additional 826 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after acquiring an additional 1,556 shares during the period. Quarry LP purchased a new position in Evolent Health in the 2nd quarter worth $32,000. Canada Pension Plan Investment Board acquired a new stake in Evolent Health during the 2nd quarter worth about $61,000. Finally, Quest Partners LLC acquired a new stake in Evolent Health during the 2nd quarter worth about $87,000.

Evolent Health Trading Down 3.3 %

Shares of EVH stock opened at $11.94 on Wednesday. The stock has a 50 day simple moving average of $24.38 and a 200-day simple moving average of $24.08. Evolent Health, Inc. has a 1-year low of $11.91 and a 1-year high of $35.00. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -13.12 and a beta of 1.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EVH. JMP Securities reduced their price objective on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Oppenheimer cut their price target on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday. Citigroup decreased their price objective on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. KeyCorp initiated coverage on shares of Evolent Health in a research note on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $20.00 target price on shares of Evolent Health in a research report on Tuesday, November 12th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $28.90.

Insiders Place Their Bets

In other news, General Counsel Jonathan Weinberg sold 42,140 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total value of $1,314,768.00. Following the completion of the sale, the general counsel now directly owns 167,027 shares in the company, valued at $5,211,242.40. This represents a 20.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Daniel Joseph Mccarthy sold 23,693 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.89, for a total value of $731,876.77. Following the transaction, the president now owns 198,809 shares in the company, valued at approximately $6,141,210.01. The trade was a 10.65 % decrease in their position. 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. Company insiders own 1.60% of the company’s stock.

About Evolent Health

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.