Millennium Management LLC Buys 720,625 Shares of Evolent Health, Inc. (NYSE:EVH)

Millennium Management LLC raised its stake in Evolent Health, Inc. (NYSE:EVH - Free Report) by 134.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,255,446 shares of the technology company's stock after acquiring an additional 720,625 shares during the quarter. Millennium Management LLC owned about 1.08% of Evolent Health worth $14,124,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of Evolent Health by 181.3% during the third quarter. Barclays PLC now owns 273,776 shares of the technology company's stock worth $7,742,000 after purchasing an additional 176,445 shares during the period. Brighton Jones LLC acquired a new stake in Evolent Health in the fourth quarter valued at approximately $3,927,000. Dynamic Advisor Solutions LLC acquired a new stake in Evolent Health in the fourth quarter valued at approximately $134,000. KBC Group NV boosted its position in Evolent Health by 124.6% in the fourth quarter. KBC Group NV now owns 6,741 shares of the technology company's stock valued at $76,000 after buying an additional 3,739 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Evolent Health in the fourth quarter valued at approximately $31,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on EVH shares. JMP Securities reiterated a "market outperform" rating and set a $13.00 price target on shares of Evolent Health in a report on Monday, April 28th. UBS Group boosted their target price on shares of Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a report on Friday, May 9th. Piper Sandler reaffirmed an "overweight" rating and issued a $16.00 price target (down from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 price target on shares of Evolent Health in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $17.79.

Insider Activity at Evolent Health

In other news, Director Brendan B. Springstubb bought 5,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were acquired 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 of the company's stock, valued at $103,617.50. This trade represents a 73.08% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Seth Blackley bought 55,225 shares of the stock in a transaction on Thursday, March 6th. The stock was 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 in the company, valued at approximately $6,867,575.17. This represents 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 have acquired 74,000 shares of company stock worth $666,315. 1.60% of the stock is owned by corporate insiders.

Evolent Health Stock Performance

EVH traded up $0.39 during midday trading on Tuesday, reaching $7.60. The company had a trading volume of 752,456 shares, compared to its average volume of 2,415,843. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $891.65 million, a PE ratio of -9.26 and a beta of 1.04. Evolent Health, Inc. has a 12-month low of $7.06 and a 12-month high of $33.63. The business has a 50-day moving average price of $9.37 and a two-hundred day moving average price of $10.36.

Evolent Health (NYSE:EVH - Get Free Report) last released its 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). The company had revenue of $483.65 million during the quarter, compared to analysts' expectations of $460.15 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The firm's revenue was down 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, sell-side analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal 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.