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Peter J. Grua, a director at Evolent Health, Inc. (NYSE:EVH), recently acquired 11,040 shares of the company’s Class A common stock. The shares were purchased at a weighted average price of $9.01, with transactions occurring at prices ranging from $8.74 to $9.34. This acquisition brings Grua’s direct ownership to 18,749 shares. The purchase comes as the stock trades near its 52-week low of $8.35, having declined over 70% in the past six months. According to InvestingPro data, this insider purchase aligns with a broader pattern of management actively buying back shares.
In addition to his direct holdings, Grua also has an indirect interest in 41,919 shares held by the Peter J. Grua 2004 Revocable Trust, where he serves as the sole trustee with full voting and dispositive power over the shares. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with 10+ additional investment insights available to subscribers. This transaction underscores Grua’s continued investment in Evolent Health, a company providing management services in the healthcare sector with a market capitalization of approximately $1 billion.
In other recent news, Evolent Health reported fourth-quarter results that did not meet analyst expectations, with adjusted earnings per share at -$0.02 compared to the anticipated $0.07. Revenue for the quarter was $646.5 million, falling short of the projected $652.2 million, though it marked a 16.3% year-over-year increase. For the full year 2024, the company achieved revenue of $2.55 billion, a 30.1% growth from 2023. However, Evolent Health’s 2025 revenue forecast of $2.06 billion to $2.11 billion was below the $2.42 billion expected by analysts. Despite these challenges, Evolent Health retained all its top customer contracts, which account for over 90% of its revenue, and signed two new revenue agreements.
Piper Sandler adjusted its price target for Evolent Health to $16 from $17, maintaining an Overweight rating, citing the company’s strong bookings and customer retention as positives. The firm highlighted Evolent Health’s adjusted EBITDA forecast of $150 million for 2025 as well-judged. Meanwhile, Citizens JMP raised its price target for Evolent Health to $13 from $12, reaffirming a Market Outperform rating. Analyst Constantine Davides expressed confidence in the company’s management and its ability to navigate challenges in 2024. These developments reflect a mixed outlook for Evolent Health, with analysts noting both challenges and potential growth opportunities.
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