Eventide Asset Management LLC Boosts Stake in Evolent Health, Inc. (NYSE:EVH)

Eventide Asset Management LLC boosted its stake in Evolent Health, Inc. (NYSE:EVH - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,804,104 shares of the technology company's stock after acquiring an additional 64,985 shares during the period. Evolent Health accounts for approximately 1.9% of Eventide Asset Management LLC's holdings, making the stock its 11th biggest holding. Eventide Asset Management LLC owned 3.27% of Evolent Health worth $107,580,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in EVH. Principal Financial Group Inc. raised its position in shares of Evolent Health by 3.2% in the 2nd quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company's stock worth $298,000 after acquiring an additional 480 shares in the last quarter. SeaCrest Wealth Management LLC raised its holdings in Evolent Health by 6.3% in the second quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company's stock worth $195,000 after purchasing an additional 600 shares in the last quarter. Arizona State Retirement System lifted its position in Evolent Health by 2.3% during the second quarter. Arizona State Retirement System now owns 29,083 shares of the technology company's stock valued at $556,000 after buying an additional 649 shares during the period. Covestor Ltd boosted its holdings in shares of Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company's stock valued at $40,000 after buying an additional 826 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Evolent Health by 5,365.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company's stock valued at $45,000 after buying an additional 1,556 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EVH shares. JPMorgan Chase & Co. lowered their price target on shares of Evolent Health from $45.00 to $15.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. KeyCorp assumed coverage on shares of Evolent Health in a report on Friday, October 11th. They set an "overweight" rating and a $35.00 target price for the company. Citigroup cut their price target on Evolent Health from $33.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. Truist Financial reiterated a "buy" rating and set a $33.00 price objective on shares of Evolent Health in a research note on Tuesday, August 27th. Finally, Barclays cut their target price on Evolent Health from $39.00 to $19.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $25.90.

Evolent Health Stock Performance

NYSE:EVH traded down $0.01 during mid-day trading on Friday, reaching $12.92. The company's stock had a trading volume of 1,102,713 shares, compared to its average volume of 1,801,422. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market cap of $1.51 billion, a P/E ratio of -14.23 and a beta of 1.58. The firm's fifty day moving average price is $21.47 and its two-hundred day moving average price is $23.34. Evolent Health, Inc. has a 12-month low of $11.17 and a 12-month high of $35.00.

Evolent Health 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.