25,549 Shares in Evolent Health, Inc. (NYSE:EVH) Purchased by Friedenthal Financial

Friedenthal Financial purchased a new stake in Evolent Health, Inc. (NYSE:EVH) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 25,549 shares of the technology company’s stock, valued at approximately $723,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Creative Planning increased its holdings in shares of Evolent Health by 139.1% in the third quarter. Creative Planning now owns 43,262 shares of the technology company’s stock valued at $1,223,000 after purchasing an additional 25,171 shares during the period. GAMMA Investing LLC grew its position in 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 buying an additional 1,556 shares during the last quarter. Park Avenue Securities LLC acquired a new position in Evolent Health in the 3rd quarter valued at $212,000. SG Americas Securities LLC purchased a new position in Evolent Health during the 3rd quarter worth $891,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Evolent Health in the 2nd quarter worth $148,000.

Insider Buying and Selling at Evolent Health

In other news, General Counsel Jonathan Weinberg sold 42,140 shares of the stock in a transaction on Thursday, August 22nd. The shares were 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 owns 167,027 shares of the company’s stock, valued at $5,211,242.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Evolent Health news, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the transaction, the general counsel now owns 167,027 shares in the company, valued at $5,211,242.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Daniel Joseph Mccarthy sold 23,693 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the completion of the sale, the president now owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 307,291 shares of company stock valued at $9,290,385 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Evolent Health in a research note on Tuesday, October 8th. Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of Evolent Health in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised their price target on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Truist Financial reaffirmed a “buy” rating and set a $33.00 price objective on shares of Evolent Health in a report on Tuesday, August 27th. Finally, KeyCorp initiated coverage on Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price for the company. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $39.30.

Evolent Health Trading Down 4.1 %

Shares of EVH opened at $23.94 on Friday. Evolent Health, Inc. has a twelve month low of $17.98 and a twelve month high of $35.00. The firm has a market capitalization of $2.78 billion, a P/E ratio of -19.15 and a beta of 1.56. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock’s fifty day simple moving average is $28.77 and its 200 day simple moving average is $25.63.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.09. The business had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The company’s revenue was up 37.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 EPS. On average, equities research analysts forecast that Evolent Health, Inc. will post 0.86 earnings per share for the current year.

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.