225,995 Shares in Evolent Health, Inc. (NYSE:EVH) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in Evolent Health, Inc. (NYSE:EVH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 225,995 shares of the technology company's stock, valued at approximately $2,542,000. Raymond James Financial Inc. owned approximately 0.19% of Evolent Health at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Polymer Capital Management US LLC purchased a new stake in Evolent Health in the fourth quarter worth about $194,000. Aristides Capital LLC purchased a new position in shares of Evolent Health in the 4th quarter valued at approximately $209,000. Federated Hermes Inc. grew its stake in Evolent Health by 407.8% in the fourth quarter. Federated Hermes Inc. now owns 455,607 shares of the technology company's stock worth $5,126,000 after purchasing an additional 365,890 shares during the period. Russell Investments Group Ltd. raised its holdings in Evolent Health by 26.7% in the fourth quarter. Russell Investments Group Ltd. now owns 76,279 shares of the technology company's stock worth $858,000 after purchasing an additional 16,068 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Evolent Health during the 4th quarter valued at about $26,000.

Insider Activity

In other Evolent Health 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 bought 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Diane Holder bought 2,735 shares of the company's stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the transaction, the director now directly owns 70,584 shares in the company, valued at approximately $658,548.72. This represents a 4.03 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 74,000 shares of company stock worth $666,315. Company insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EVH. Stephens lowered their price target on Evolent Health from $16.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. Canaccord Genuity Group reduced their price target on shares of Evolent Health from $23.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Royal Bank of Canada lowered their price objective on shares of Evolent Health from $20.00 to $17.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 14th. Citigroup cut their target price on shares of Evolent Health from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $15.00 price objective on shares of Evolent Health in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Evolent Health currently has a consensus rating of "Buy" and an average target price of $17.71.

Evolent Health Price Performance

Shares of NYSE:EVH traded down $0.25 on Monday, reaching $10.44. The company's stock had a trading volume of 102,623 shares, compared to its average volume of 2,443,888. The company has a 50-day simple moving average of $9.48 and a 200 day simple moving average of $11.92. Evolent Health, Inc. has a 52-week low of $8.35 and a 52-week high of $33.63. 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 company has a market cap of $1.22 billion, a P/E ratio of -12.73 and a beta of 1.20.

Evolent Health (NYSE:EVH - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The company had revenue of $646.54 million for the quarter, compared to analysts' expectations of $650.92 million. As a group, equities research analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current fiscal 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.