Cibc World Markets Corp Takes Position in Evolent Health, Inc. (NYSE:EVH)

Cibc World Markets Corp acquired a new position in Evolent Health, Inc. (NYSE:EVH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,803 shares of the technology company’s stock, valued at approximately $122,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Evolent Health in the fourth quarter worth approximately $31,000. AlphaQuest LLC boosted its holdings in Evolent Health by 21,650.0% in the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after purchasing an additional 3,031 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Evolent Health by 90.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after purchasing an additional 2,358 shares in the last quarter. AlphaCentric Advisors LLC acquired a new position in Evolent Health during the fourth quarter worth $61,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in Evolent Health by 2,471.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,507 shares of the technology company’s stock valued at $184,000 after buying an additional 6,254 shares in the last quarter.

Analyst Ratings Changes

EVH has been the topic of a number of analyst reports. BTIG Research lowered their price objective on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of Evolent Health in a report on Friday, February 21st. Stephens reduced their price objective on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Piper Sandler reiterated an “overweight” rating and issued a $16.00 target price (down from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Finally, UBS Group cut their target price on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $17.71.

Insider Buying and Selling at Evolent Health

In related news, President Daniel Joseph Mccarthy bought 11,040 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $9.01 per share, with a total value of $99,470.40. Following the acquisition, the president now owns 389,004 shares in the company, valued at approximately $3,504,926.04. This represents a 2.92 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brendan B. Springstubb purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $8.75 per share, for a total transaction of $43,750.00. Following the purchase, the director now owns 11,842 shares in the company, valued at $103,617.50. This represents a 73.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 74,000 shares of company stock valued at $666,315 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Evolent Health Stock Up 1.9 %

EVH stock opened at $9.63 on Friday. Evolent Health, Inc. has a twelve month low of $8.35 and a twelve month high of $33.63. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.12 billion, a PE ratio of -11.74 and a beta of 1.49. The business’s 50-day simple moving average is $9.82 and its 200 day simple moving average is $15.68.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.35). The firm had revenue of $646.54 million for the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. On average, research analysts anticipate that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Evolent Health 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.