Eagle Asset Management Inc. Cuts Stake in Evolent Health, Inc. (NYSE:EVH)

Eagle Asset Management Inc. cut its holdings in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) by 95.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,001 shares of the technology company's stock after selling 616,845 shares during the quarter. Eagle Asset Management Inc.'s holdings in Evolent Health were worth $820,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in EVH. Vanguard Group Inc. boosted its position in Evolent Health by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company's stock valued at $357,905,000 after buying an additional 93,739 shares during the period. American International Group Inc. increased its stake in Evolent Health by 1.2% in the 1st quarter. American International Group Inc. now owns 55,402 shares of the technology company's stock worth $1,817,000 after purchasing an additional 640 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Evolent Health by 8.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 39,522 shares of the technology company's stock valued at $1,297,000 after purchasing an additional 3,064 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 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 buying an additional 75,376 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in Evolent Health during the 1st quarter valued at $559,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EVH shares. Stephens lowered shares of Evolent Health from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $38.00 to $16.00 in a report on Friday, November 8th. Oppenheimer cut their target price on Evolent Health from $34.00 to $28.00 and set an "outperform" rating on the stock in a research note on Monday, November 18th. JMP Securities lowered their price target on Evolent Health from $34.00 to $31.00 and set a "market outperform" rating for the company in a research report on Friday, August 9th. Citigroup dropped their price objective on Evolent Health from $33.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. reduced their target price on Evolent Health from $45.00 to $15.00 and set an "overweight" rating on the stock in a research note on Friday. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $25.90.

Evolent Health Stock Up 8.6 %

EVH stock traded up $1.05 during midday trading on Tuesday, hitting $13.26. The stock had a trading volume of 3,568,089 shares, compared to its average volume of 1,802,302. 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 firm has a market cap of $1.55 billion, a price-to-earnings ratio of -14.53 and a beta of 1.58. The business has a 50-day moving average of $22.89 and a two-hundred day moving average of $23.64. Evolent Health, Inc. has a 52-week low of $11.17 and a 52-week high of $35.00.

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.