177,372 Shares in Evolent Health, Inc. (NYSE:EVH) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 177,372 shares of the technology company's stock, valued at approximately $1,995,000. Edgestream Partners L.P. owned approximately 0.15% of Evolent Health as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company's stock worth $356,200,000 after buying an additional 1,426,747 shares in the last quarter. Eventide Asset Management LLC boosted its stake in shares of Evolent Health by 1.7% in the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company's stock worth $107,580,000 after acquiring an additional 64,985 shares during the last quarter. State Street Corp increased its position in shares of Evolent Health by 1.0% during the third quarter. State Street Corp now owns 2,725,375 shares of the technology company's stock worth $77,074,000 after purchasing an additional 25,967 shares in the last quarter. Bellevue Group AG raised its stake in Evolent Health by 59.9% in the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company's stock valued at $75,509,000 after purchasing an additional 1,000,215 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Evolent Health by 1,948.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company's stock valued at $42,289,000 after purchasing an additional 1,422,385 shares in the last quarter.

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Insider Activity at Evolent Health

In other Evolent Health news, CEO Seth Blackley purchased 55,225 shares of the business's stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the purchase, the chief executive officer now directly owns 762,217 shares of the company's stock, valued at approximately $6,867,575.17. This trade represents a 7.81 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brendan B. Springstubb acquired 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $8.75 per share, with a total value of $43,750.00. Following the purchase, the director now owns 11,842 shares of the company's stock, valued at approximately $103,617.50. This trade represents a 73.08 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 74,000 shares of company stock worth $666,315. 1.60% of the stock is currently owned by company insiders.

Evolent Health Trading Up 0.3 %

EVH stock traded up $0.03 during mid-day trading on Thursday, hitting $9.51. 2,112,922 shares of the company were exchanged, compared to its average volume of 2,076,186. Evolent Health, Inc. has a 12-month low of $8.35 and a 12-month high of $34.07. The firm has a market capitalization of $1.11 billion, a P/E ratio of -11.59 and a beta of 1.49. The business has a fifty day simple moving average of $10.26 and a 200-day simple moving average of $17.23. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Evolent Health (NYSE:EVH - Get Free Report) last posted its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The company had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. On average, equities research analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EVH shares. JMP Securities reaffirmed a "market outperform" rating and set a $12.00 target price on shares of Evolent Health in a report on Friday, February 14th. Citigroup cut their price objective on shares of Evolent Health from $21.00 to $18.00 and set a "buy" rating for the company in a report on Friday, January 10th. Piper Sandler reissued an "overweight" rating and issued a $16.00 target price (down from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Royal Bank of Canada dropped their price target on Evolent Health from $20.00 to $17.00 and set an "outperform" rating for the company in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. cut their price target on Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Monday. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Evolent Health has an average rating of "Buy" and a consensus price target of $17.71.

Evolent Health Company Profile

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.