Semanteon Capital Management LP Makes New Investment in Evolent Health, Inc. (NYSE:EVH)

Semanteon Capital Management LP acquired a new position in shares of Evolent Health, Inc. (NYSE:EVH) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 66,230 shares of the technology company’s stock, valued at approximately $745,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EVH. Principal Financial Group Inc. increased its holdings in Evolent Health by 268.0% during the 3rd quarter. Principal Financial Group Inc. now owns 57,382 shares of the technology company’s stock worth $1,623,000 after purchasing an additional 41,788 shares in the last quarter. Atria Investments Inc bought a new stake in Evolent Health during the 3rd quarter worth approximately $208,000. Jennison Associates LLC increased its holdings in Evolent Health by 5.7% during the 3rd quarter. Jennison Associates LLC now owns 646,806 shares of the technology company’s stock worth $18,292,000 after purchasing an additional 34,990 shares in the last quarter. Intech Investment Management LLC bought a new stake in Evolent Health during the 3rd quarter worth approximately $989,000. Finally, Algert Global LLC increased its holdings in Evolent Health by 120.2% during the 3rd quarter. Algert Global LLC now owns 23,025 shares of the technology company’s stock worth $651,000 after purchasing an additional 12,570 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Canaccord Genuity Group decreased their price objective on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Oppenheimer cut their target price on Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. BTIG Research cut their target price on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Royal Bank of Canada cut their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Finally, Citigroup cut their target price on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $17.71.

Insiders Place Their Bets

In related news, Director Brendan B. Springstubb bought 5,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the completion of the transaction, the director now directly owns 11,842 shares in the company, valued at approximately $103,617.50. The trade was a 73.08 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Seth Blackley bought 55,225 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $9.01 per share, for a total transaction of $497,577.25. Following the transaction, the chief executive officer now owns 762,217 shares of the company’s stock, valued at approximately $6,867,575.17. This represents a 7.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 74,000 shares of company stock worth $666,315 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Evolent Health Price Performance

Evolent Health stock opened at $9.61 on Friday. Evolent Health, Inc. has a 12 month low of $8.35 and a 12 month high of $33.63. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The business’s 50 day simple moving average is $9.93 and its 200 day simple moving average is $16.26. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -11.72 and a beta of 1.49.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.35). The firm had revenue of $646.54 million during the quarter, compared to analysts’ expectations of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. Sell-side analysts forecast that Evolent Health, Inc. will post 0.08 EPS for the current 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.