FORA Capital LLC Buys New Position in Evolent Health, Inc. (NYSE:EVH)

FORA Capital LLC purchased a new position in Evolent Health, Inc. (NYSE:EVH - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 56,739 shares of the technology company's stock, valued at approximately $638,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Evolent Health in the fourth quarter valued at $26,000. R Squared Ltd purchased a new stake in Evolent Health in the 4th quarter worth about $31,000. AlphaQuest LLC raised its position in Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company's stock worth $34,000 after purchasing an additional 3,031 shares during the period. Parkside Financial Bank & Trust lifted its stake in 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 purchasing an additional 2,358 shares during the last quarter. Finally, AlphaCentric Advisors LLC purchased a new position in shares of Evolent Health during the fourth quarter valued at approximately $61,000.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EVH. Piper Sandler reiterated an "overweight" rating and issued a $16.00 price target (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Truist Financial decreased their target price on Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. lowered 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 note on Monday, March 10th. JMP Securities reaffirmed a "market outperform" rating and issued a $13.00 price target on shares of Evolent Health in a research note on Monday, April 28th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $15.00 price objective on shares of Evolent Health in a report on Tuesday. One equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $17.79.

Evolent Health Stock Down 0.4%

Shares of NYSE EVH traded down $0.04 during midday trading on Tuesday, reaching $9.27. 3,077,414 shares of the company's stock traded hands, compared to its average volume of 2,399,427. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -11.30 and a beta of 1.04. The stock's 50 day simple moving average is $9.62 and its 200-day simple moving average is $11.37. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health, Inc. has a one year low of $8.35 and a one year high of $33.63.

Evolent Health (NYSE:EVH - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). The company had revenue of $483.65 million for the quarter, compared to the consensus estimate 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 period last year, the business posted $0.34 EPS. On average, analysts predict that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Evolent Health

In other news, Director Brendan B. Springstubb acquired 5,000 shares of Evolent Health stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price 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. The trade was a 73.08% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Diane Holder bought 2,735 shares of the stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $9.33 per share, with a total value of $25,517.55. Following the completion of the purchase, the director now owns 70,584 shares of the company's stock, valued at $658,548.72. This represents a 4.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 74,000 shares of company stock worth $666,315 over the last quarter. Insiders own 1.40% of the company's stock.

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.