Bridgewater Associates LP Trims Stake in Evolent Health, Inc. (NYSE:EVH)

Bridgewater Associates LP lessened its position in Evolent Health, Inc. (NYSE:EVH - Free Report) by 52.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,498 shares of the technology company's stock after selling 80,387 shares during the quarter. Bridgewater Associates LP owned approximately 0.06% of Evolent Health worth $2,050,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Evolent Health by 8.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 39,522 shares of the technology company's stock valued at $1,297,000 after buying an additional 3,064 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Evolent Health by 11.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 717,334 shares of the technology company's stock worth $23,522,000 after purchasing an additional 75,376 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Evolent Health by 393.6% during the second quarter. Harbor Capital Advisors Inc. now owns 176,021 shares of the technology company's stock valued at $3,366,000 after purchasing an additional 140,357 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Evolent Health during the second quarter valued at approximately $2,705,000. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of Evolent Health by 88.1% during the second quarter. Salem Investment Counselors Inc. now owns 225,901 shares of the technology company's stock valued at $4,319,000 after purchasing an additional 105,780 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently weighed in on EVH. JMP Securities cut their price target on Evolent Health from $34.00 to $31.00 and set a "market outperform" rating on the stock in a research note on Friday, August 9th. Truist Financial restated a "buy" rating and set a $33.00 price target on shares of Evolent Health in a report on Tuesday, August 27th. Citigroup dropped their target price on shares of Evolent Health from $33.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. Oppenheimer reduced their price target on shares of Evolent Health from $34.00 to $28.00 and set an "outperform" rating for the company in a research report on Monday, November 18th. Finally, Stephens cut Evolent Health from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $38.00 to $16.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $25.90.

Evolent Health Stock Performance

Evolent Health stock traded down $0.01 during mid-day trading on Friday, reaching $12.92. 1,102,713 shares of the stock traded hands, compared to its average volume of 3,654,132. Evolent Health, Inc. has a 12-month low of $11.17 and a 12-month high of $35.00. The business's 50-day moving average is $21.47 and its 200-day moving average is $23.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $1.51 billion, a PE ratio of -14.20 and a beta of 1.58.

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.