Evolent Health, Inc. (NYSE:EVH) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in Evolent Health, Inc. (NYSE:EVH) by 10.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 57,891 shares of the technology company’s stock after selling 7,063 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Evolent Health were worth $651,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Evolent Health in the 4th quarter valued at about $2,542,000. Barclays PLC lifted its position in Evolent Health by 181.3% during the 3rd quarter. Barclays PLC now owns 273,776 shares of the technology company’s stock worth $7,742,000 after acquiring an additional 176,445 shares in the last quarter. Brighton Jones LLC acquired a new position in Evolent Health during the 4th quarter worth approximately $3,927,000. Charles Schwab Investment Management Inc. lifted its position in Evolent Health by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 918,992 shares of the technology company’s stock worth $10,339,000 after acquiring an additional 6,597 shares in the last quarter. Finally, Levin Capital Strategies L.P. acquired a new position in Evolent Health during the 4th quarter worth approximately $664,000.

Evolent Health Price Performance

EVH stock opened at $8.83 on Friday. Evolent Health, Inc. has a 52-week low of $8.35 and a 52-week 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 capitalization of $1.03 billion, a PE ratio of -10.77 and a beta of 1.04. The stock’s 50 day moving average is $9.61 and its two-hundred day moving average is $11.24.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The firm had revenue of $483.65 million during the quarter, compared to the consensus estimate of $460.15 million. During the same quarter last year, the firm posted $0.34 earnings per share. Evolent Health’s revenue was down 24.4% compared to the same quarter last year. Analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Brendan B. Springstubb acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $8.75 per share, for a total transaction of $43,750.00. Following the purchase, the director now directly 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Seth Blackley acquired 55,225 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $9.01 per share, with a total value of $497,577.25. Following the completion of the purchase, the chief executive officer now owns 762,217 shares in the company, valued at $6,867,575.17. The trade was a 7.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 74,000 shares of company stock worth $666,315. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

EVH has been the topic of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of Evolent Health in a research report on Tuesday. Stephens reduced their price target on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. JMP Securities reissued a “market outperform” rating and set a $13.00 price target on shares of Evolent Health in a research report on Monday, April 28th. Oppenheimer reduced their price target on Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Truist Financial dropped their price objective on Evolent Health from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Evolent Health has an average rating of “Buy” and a consensus target price of $17.79.

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.