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In a recent transaction reported on March 6, Daniel Joseph McCarthy, President of Evolent Health, Inc. (NYSE:EVH), acquired 11,040 shares of the company’s Class A Common Stock. The purchase was made at a weighted average price of $9.01 per share, with transaction prices ranging from $8.74 to $9.34. This acquisition amounts to a total investment of $99,470. Following this transaction, McCarthy holds a total of 389,004 shares directly in the $1.03 billion market cap company. The insider purchase comes as the stock trades near its 52-week low of $8.35, down significantly from its high of $34.84. According to InvestingPro analysis, the stock appears undervalued, with analysts seeing up to 67% upside potential. InvestingPro subscribers can access 8 additional key insights about EVH, including detailed management activity analysis and comprehensive valuation metrics.
In other recent news, Evolent Health reported fourth-quarter results that did not meet analyst expectations, with adjusted earnings per share at -$0.02, missing the consensus estimate of $0.07. Revenue for the quarter reached $646.5 million, which was below the projected $652.2 million but marked a 16.3% increase year-over-year. The company’s full-year 2024 revenue was $2.55 billion, showing a growth of 30.1% over 2023, yet its guidance for 2025 was lower than anticipated, with expected revenue between $2.06 billion and $2.11 billion, compared to the $2.42 billion analysts were forecasting. Piper Sandler adjusted its price target for Evolent Health to $16 from $17, maintaining an Overweight rating, following the company’s earnings report. The firm noted the results were better than expected despite being at the lower end of guidance, and highlighted Evolent Health’s strong bookings and full retention of top customers. Citizens JMP also raised the price target for Evolent Health to $13 from $12, reaffirming a Market Outperform rating. Analyst Constantine Davides expressed confidence in Evolent Health’s management and the predictability of its profit generation moving forward. These developments reflect ongoing adjustments and investor interest in Evolent Health amid its financial performance and strategic initiatives.
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