Legal & General Group Plc Decreases Position in Evolent Health, Inc. (NYSE:EVH)

Legal & General Group Plc reduced its position in shares of Evolent Health, Inc. (NYSE:EVH) by 5.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 112,688 shares of the technology company’s stock after selling 6,553 shares during the period. Legal & General Group Plc’s holdings in Evolent Health were worth $1,268,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Evolent Health in the fourth quarter worth approximately $26,000. R Squared Ltd acquired a new stake in Evolent Health during the 4th quarter worth $31,000. AlphaQuest LLC grew its holdings in shares of Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after buying an additional 3,031 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Evolent Health by 90.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after buying an additional 2,358 shares during the last quarter. Finally, AlphaCentric Advisors LLC purchased a new position in shares of Evolent Health in the fourth quarter worth about $61,000.

Evolent Health Stock Performance

NYSE EVH opened at $8.98 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $1.05 billion, a P/E ratio of -10.95 and a beta of 1.20. The stock has a 50-day moving average of $9.53 and a two-hundred day moving average of $12.60. Evolent Health, Inc. has a 1-year low of $8.35 and a 1-year high of $33.63.

Evolent Health (NYSE:EVH) last announced its earnings results 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 business had revenue of $646.54 million for the quarter, compared to analysts’ expectations of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. As a group, analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.

Insider Transactions at Evolent Health

In related news, President Daniel Joseph Mccarthy acquired 11,040 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $9.01 per share, for a total transaction of $99,470.40. Following the purchase, the president now owns 389,004 shares of the company’s stock, valued at $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 can be accessed through this hyperlink. Also, CEO Seth Blackley bought 55,225 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the purchase, the chief executive officer now directly owns 762,217 shares of the company’s stock, valued at approximately $6,867,575.17. This trade represents a 7.81 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 74,000 shares of company stock valued at $666,315. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

EVH has been the subject of several research reports. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price objective (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Citigroup dropped their price target on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Oppenheimer reduced their price objective 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. JMP Securities restated a “market outperform” rating and issued a $12.00 target price on shares of Evolent Health in a report on Friday, February 14th. Finally, 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. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $17.64.

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.