Daniel Joseph Mccarthy Sells 65,892 Shares of Evolent Health (NYSE:EVH) Stock

Key Points

• Evolent Health President Daniel Joseph McCarthy sold 65,892 shares at an average price of $5.00, worth $329,460. The Rule 10b5-1 transaction reduced his stake by 9.14%, leaving him with 655,133 shares.
• Evolent reported quarterly EPS of $0.02, beating analysts’ forecast of a $0.01 loss, while revenue rose 46.9% year over year to $484.5 million but fell short of the $597.7 million estimate.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $5.96, compared with the stock’s recent price of $4.61.

Evolent Health, Inc (NYSE:EVH - Get Free Report) President Daniel Joseph Mccarthy sold 65,892 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $5.00, for a total value of $329,460.00. Following the completion of the transaction, the president owned 655,133 shares in the company, valued at approximately $3,275,665. The trade was a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Evolent Health Stock Performance

Shares of Evolent Health stock traded up $0.02 during trading hours on Friday, reaching $4.61. The company had a trading volume of 2,212,097 shares, compared to its average volume of 3,055,550. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $521.20 million, a PE ratio of -1.01 and a beta of 0.79. Evolent Health, Inc has a one year low of $2.10 and a one year high of $10.08. The business has a fifty day simple moving average of $4.78 and a 200 day simple moving average of $3.83.

Evolent Health (NYSE:EVH - Get Free Report) last announced its earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.03. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%.The business had revenue of $484.50 million for the quarter, compared to analyst estimates of $597.70 million. During the same period in the prior year, the company earned ($0.10) EPS. The company's quarterly revenue was up 46.9% compared to the same quarter last year. On average, analysts anticipate that Evolent Health, Inc will post -0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EVH shares. JPMorgan Chase & Co. upped their price target on Evolent Health from $5.00 to $6.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 18th. Citigroup upgraded shares of Evolent Health from a "neutral" rating to a "buy" rating and dropped their target price for the company from $6.75 to $6.00 in a report on Monday, August 10th. Weiss Ratings downgraded shares of Evolent Health from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 18th. Truist Financial lowered their price target on shares of Evolent Health from $7.00 to $6.00 and set a "hold" rating for the company in a research report on Wednesday, August 12th. Finally, Needham & Company LLC raised their price objective on Evolent Health from $4.00 to $5.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $5.96.

Hedge Funds Weigh In On Evolent Health

Institutional investors and hedge funds have recently made changes to their positions in the business. R Squared Ltd bought a new stake in shares of Evolent Health during the 1st quarter valued at $26,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Evolent Health by 4,000.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company's stock valued at $35,000 after purchasing an additional 4,000 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Evolent Health by 41.7% in the second quarter. California State Teachers Retirement System now owns 8,471 shares of the technology company's stock worth $46,000 after purchasing an additional 2,494 shares during the last quarter. Strs Ohio purchased a new stake in shares of Evolent Health in the first quarter worth about $47,000. Finally, Vise Technologies Inc. bought a new position in Evolent Health during the fourth quarter valued at approximately $50,000.

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company's core offerings include care management solutions, population health analytics and clinical advisory services.

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