Price T Rowe Associates Inc. MD Acquires 28,540 Shares of Evolent Health, Inc. (NYSE:EVH)

Price T Rowe Associates Inc. MD raised its stake in Evolent Health, Inc. (NYSE:EVH - Free Report) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 744,445 shares of the technology company's stock after purchasing an additional 28,540 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.64% of Evolent Health worth $8,376,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EVH. Vanguard Group Inc. raised its stake in shares of Evolent Health by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company's stock worth $125,676,000 after buying an additional 259,781 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Evolent Health by 19.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,897,443 shares of the technology company's stock worth $32,595,000 after buying an additional 466,225 shares in the last quarter. Boston Partners boosted its position in Evolent Health by 92.0% during the fourth quarter. Boston Partners now owns 2,444,006 shares of the technology company's stock worth $27,097,000 after acquiring an additional 1,171,304 shares during the last quarter. Norges Bank purchased a new stake in shares of Evolent Health in the fourth quarter valued at $12,519,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Evolent Health by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 918,992 shares of the technology company's stock worth $10,339,000 after acquiring an additional 6,597 shares during the period.

Insider Activity

In other news, Director Brendan B. Springstubb bought 5,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $8.75 per share, with a total value of $43,750.00. Following the completion of the purchase, the director now directly owns 11,842 shares of the company's stock, valued at approximately $103,617.50. This represents a 73.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Diane Holder acquired 2,735 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $9.33 per share, with a total value of $25,517.55. Following the transaction, the director now owns 70,584 shares in the company, valued at approximately $658,548.72. This trade represents a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 74,000 shares of company stock worth $666,315. 1.60% of the stock is currently owned by corporate insiders.

Evolent Health Stock Performance

Shares of EVH stock traded down $1.43 during trading on Friday, reaching $9.35. 1,844,618 shares of the company's stock were exchanged, compared to its average volume of 2,378,135. Evolent Health, Inc. has a twelve month low of $8.35 and a twelve month high of $33.63. The firm's fifty day moving average price is $9.60 and its 200-day moving average price is $11.72. The stock has a market capitalization of $1.09 billion, a PE ratio of -11.40 and a beta of 1.04. 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 (NYSE:EVH - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02). The company had revenue of $483.65 million for the quarter, compared to analyst estimates of $460.15 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The company's quarterly revenue was down 24.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 EPS. As a group, sell-side analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on EVH. Citigroup decreased their target price on Evolent Health from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Needham & Company LLC restated a "buy" rating and issued a $15.00 target price on shares of Evolent Health in a research 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 note on Thursday, April 10th. JMP Securities reissued a "market outperform" rating and issued a $13.00 target price on shares of Evolent Health in a research report on Monday, April 28th. Finally, Oppenheimer lowered their price target on shares of Evolent Health from $28.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average 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.