Raymond James Financial Inc. Invests $2.54 Million in Evolent Health, Inc. (NYSE:EVH)

Raymond James Financial Inc. purchased a new stake in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 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 reporting period.

Other institutional investors have also recently bought and sold shares of the company. Salem Investment Counselors Inc. raised its holdings in shares of Evolent Health by 53.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company's stock valued at $3,939,000 after buying an additional 121,369 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Evolent Health by 7.0% during the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company's stock worth $1,469,000 after purchasing an additional 8,552 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Evolent Health by 90.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company's stock valued at $9,036,000 after purchasing an additional 380,790 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Evolent Health by 40.8% in the third quarter. Franklin Resources Inc. now owns 909,776 shares of the technology company's stock valued at $24,682,000 after purchasing an additional 263,815 shares in the last quarter. Finally, Barclays PLC raised its position in Evolent Health by 181.3% in the 3rd 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 last quarter.

Insiders Place Their Bets

In other Evolent Health news, Director Diane Holder bought 2,735 shares of Evolent Health stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the completion of the acquisition, the director now owns 70,584 shares of the company's stock, valued at $658,548.72. This trade represents a 4.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Daniel Joseph Mccarthy bought 11,040 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $9.01 per share, with a total value of $99,470.40. Following the transaction, the president now owns 389,004 shares of the company's stock, valued at $3,504,926.04. This represents a 2.92 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 74,000 shares of company stock valued at $666,315 in the last quarter. 1.60% of the stock is currently owned by insiders.

Evolent Health Trading Up 5.5 %

EVH opened at $9.85 on Wednesday. The stock has a market capitalization of $1.15 billion, a P/E ratio of -12.01 and a beta of 1.20. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health, Inc. has a 12 month low of $8.35 and a 12 month high of $33.63. The firm's fifty day simple moving average is $9.49 and its 200 day simple moving average is $12.36.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EVH. Truist Financial dropped their price target on shares of 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 price target on shares of Evolent Health in a research note on Monday. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price objective on shares of Evolent Health in a research note on Friday, February 21st. Royal Bank of Canada dropped their price objective on Evolent Health from $20.00 to $17.00 and set an "outperform" rating for the company in a report on Tuesday, January 14th. Finally, Piper Sandler restated an "overweight" rating and set a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Evolent Health has a consensus 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.

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