Evolent Health, Inc (EVH) Shares Bought by Salem Investment Counselors Inc.
Salem Investment Counselors Inc. increased its stake in shares of Evolent Health, Inc (NYSE:EVH) by 31.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 41,730 shares of the technology company’s stock after purchasing an additional 10,000 shares during the period. Salem Investment Counselors Inc. owned approximately 0.06% of Evolent Health worth $1,058,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its holdings in Evolent Health by 815.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,751 shares of the technology company’s stock valued at $120,000 after purchasing an additional 4,232 shares during the last quarter. US Bancorp DE raised its position in Evolent Health by 0.3% in the first quarter. US Bancorp DE now owns 5,654 shares of the technology company’s stock valued at $126,000 after purchasing an additional 19 shares during the period. Point72 Asia Hong Kong Ltd purchased a new stake in Evolent Health in the first quarter valued at approximately $126,000. Bank of Montreal Can raised its position in Evolent Health by 4,249.7% in the first quarter. Bank of Montreal Can now owns 6,220 shares of the technology company’s stock valued at $138,000 after purchasing an additional 6,077 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Evolent Health by 286.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,744 shares of the technology company’s stock valued at $150,000 after purchasing an additional 5,000 shares during the period. 82.51% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Frank J. Williams sold 16,300 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $24.76, for a total value of $403,588.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Peterson III sold 40,540 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $26.00, for a total value of $1,054,040.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,807 shares of company stock valued at $2,034,642. Insiders own 8.79% of the company’s stock.
A number of research analysts have commented on the company. Robert W. Baird restated an “outperform” rating and set a $25.00 price target (down from $35.00) on shares of Evolent Health in a research note on Tuesday, September 26th. They noted that the move was a valuation call. SunTrust Banks, Inc. restated a “buy” rating and set a $30.00 target price on shares of Evolent Health in a report on Wednesday, September 20th. KeyCorp initiated coverage on Evolent Health in a research report on Tuesday, September 19th. They issued an “overweight” rating and a $23.00 target price for the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Evolent Health in a research report on Wednesday, September 6th. Finally, Leerink Swann set a $32.00 price target on shares of Evolent Health and gave the stock a “buy” rating in a research note on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Evolent Health presently has an average rating of “Buy” and an average price target of $28.50.
Shares of Evolent Health, Inc (NYSE:EVH) traded up 2.388% during mid-day trading on Monday, hitting $18.225. 770,081 shares of the stock traded hands. Evolent Health, Inc has a one year low of $14.50 and a one year high of $25.66. The stock’s market cap is $1.20 billion. The stock has a 50-day moving average of $17.19 and a 200 day moving average of $17.19.
Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Monday, August 7th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). Evolent Health had a negative return on equity of 6.44% and a negative net margin of 17.57%. The company had revenue of $107.30 million for the quarter, compared to the consensus estimate of $104.45 million. During the same period in the previous year, the business earned ($0.20) EPS. Evolent Health’s revenue for the quarter was up 89.9% compared to the same quarter last year. Equities analysts predict that Evolent Health, Inc will post ($0.41) EPS for the current fiscal year.
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Evolent Health Profile
Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.
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