Johnson Investment Counsel Inc. Has $131,000 Stock Position in Evolent Health, Inc. (NYSE:EVH)

Johnson Investment Counsel Inc. increased its position in shares of Evolent Health, Inc. (NYSE:EVH) by 28.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,607 shares of the technology company’s stock after purchasing an additional 2,542 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Evolent Health were worth $131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd increased its stake in shares of Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 826 shares during the last quarter. R Squared Ltd bought a new position in Evolent Health in the fourth quarter valued at about $31,000. AlphaQuest LLC raised its stake in 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 acquiring an additional 3,031 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings 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 worth $56,000 after acquiring an additional 2,358 shares during the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in Evolent Health in the 4th quarter valued at approximately $61,000.

Evolent Health Stock Performance

EVH stock opened at $9.44 on Friday. The firm has a market cap of $1.10 billion, a PE ratio of -11.51 and a beta of 1.49. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $10.22 and a 200-day moving average price of $17.17. Evolent Health, Inc. has a 1-year low of $8.35 and a 1-year high of $33.63.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The business had revenue of $646.54 million during the quarter, compared to the consensus estimate 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, equities research analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In other news, Director Diane Holder bought 2,735 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the purchase, the director now directly owns 70,584 shares in the company, valued at approximately $658,548.72. This represents a 4.03 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Seth Blackley purchased 55,225 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $9.01 per share, for a total transaction 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. This trade represents a 7.81 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 74,000 shares of company stock worth $666,315 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EVH has been the subject of a number of research reports. Truist Financial dropped their price target on Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. BTIG Research cut their price target on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. lowered their price objective on Evolent Health from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target on shares of Evolent Health in a research report on Friday, February 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price target (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. One research 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $17.71.

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.