Rhumbline Advisers decreased its holdings in Evolent Health, Inc. (NYSE:EVH) by 6.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 127,256 shares of the technology company’s stock after selling 8,670 shares during the quarter. Rhumbline Advisers owned 0.15% of Evolent Health worth $2,571,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in EVH. Victory Capital Management Inc. lifted its position in shares of Evolent Health by 13.4% during the 4th quarter. Victory Capital Management Inc. now owns 12,502 shares of the technology company’s stock worth $200,000 after buying an additional 1,478 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Evolent Health during the 4th quarter worth approximately $3,670,000. SG Americas Securities LLC purchased a new stake in shares of Evolent Health during the 4th quarter worth approximately $248,000. Aperio Group LLC increased its stake in shares of Evolent Health by 4.0% during the 4th quarter. Aperio Group LLC now owns 17,476 shares of the technology company’s stock worth $280,000 after purchasing an additional 669 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Evolent Health by 6.1% during the 4th quarter. BlackRock Inc. now owns 5,602,233 shares of the technology company’s stock worth $89,804,000 after purchasing an additional 320,848 shares during the last quarter. 93.92% of the stock is currently owned by institutional investors and hedge funds.
In other Evolent Health news, Chairman Frank J. Williams sold 20,000 shares of the business’s stock in a transaction on Monday, May 17th. The shares were sold at an average price of $19.73, for a total value of $394,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Steve Tutewohl sold 19,295 shares of the business’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $21.48, for a total transaction of $414,456.60. The disclosure for this sale can be found here. Insiders sold 59,295 shares of company stock valued at $1,236,457 over the last three months. 4.20% of the stock is currently owned by insiders.
Several equities research analysts have recently issued reports on the stock. Piper Sandler raised their price target on shares of Evolent Health from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, May 6th. BTIG Research lifted their price objective on shares of Evolent Health from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 26th. Cowen lifted their price objective on shares of Evolent Health from $19.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, February 26th. Canaccord Genuity lifted their price objective on shares of Evolent Health from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, March 1st. Finally, Zacks Investment Research lowered shares of Evolent Health from a “buy” rating to a “hold” rating in a research note on Thursday, May 13th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Evolent Health has an average rating of “Buy” and an average price target of $19.80.
NYSE EVH opened at $19.43 on Friday. Evolent Health, Inc. has a 52-week low of $5.22 and a 52-week high of $22.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market cap of $1.69 billion, a P/E ratio of -6.25 and a beta of 2.38. The stock’s fifty day moving average is $19.88.
Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Wednesday, May 5th. The technology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.09. Evolent Health had a negative net margin of 26.79% and a negative return on equity of 3.40%. As a group, sell-side analysts predict that Evolent Health, Inc. will post -0.4 earnings per share for the current fiscal year.
Evolent Health Profile
Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates through two segments, Services and True Health. The Services segment provides value-based care services that include Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows and engages patients; population health performance that delivers patient-centric cost effective care; and delivery network alignments.
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