Evolent Health, Inc. (NYSE:EVH) Shares Sold by Fmr LLC

FMR LLC lessened its stake in Evolent Health, Inc. (NYSE:EVH - Free Report) by 29.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,332,229 shares of the technology company's stock after selling 1,793,603 shares during the quarter. FMR LLC owned 3.73% of Evolent Health worth $122,515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. William Blair Investment Management LLC grew its holdings in Evolent Health by 35.2% in the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company's stock valued at $96,098,000 after purchasing an additional 1,308,376 shares during the last quarter. First Light Asset Management LLC grew its stake in Evolent Health by 401.5% in the 2nd quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company's stock valued at $27,634,000 after acquiring an additional 1,157,124 shares during the last quarter. Engaged Capital LLC raised its position in Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company's stock worth $78,611,000 after acquiring an additional 850,000 shares during the last quarter. Bank of New York Mellon Corp raised its position in Evolent Health by 24.8% during the second quarter. Bank of New York Mellon Corp now owns 2,048,341 shares of the technology company's stock worth $39,164,000 after acquiring an additional 406,837 shares during the last quarter. Finally, Foundry Partners LLC purchased a new stake in shares of Evolent Health in the third quarter valued at about $10,042,000.

Evolent Health Trading Down 2.1 %

Shares of EVH traded down $0.24 during trading hours on Thursday, hitting $11.27. The stock had a trading volume of 2,345,173 shares, compared to its average volume of 1,825,950. Evolent Health, Inc. has a 12-month low of $11.10 and a 12-month high of $35.00. The firm has a market cap of $1.31 billion, a P/E ratio of -12.66 and a beta of 1.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The company's fifty day simple moving average is $20.44 and its 200 day simple moving average is $23.10.

Analyst Ratings Changes

Several research analysts recently issued reports on EVH shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $20.00 target price on shares of Evolent Health in a research note on Tuesday, November 12th. JPMorgan Chase & Co. reduced their price objective on Evolent Health from $45.00 to $15.00 and set an "overweight" rating on the stock in a research report on Friday, November 22nd. Barclays dropped their price objective on Evolent Health from $39.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Truist Financial restated a "buy" rating and issued a $33.00 target price on shares of Evolent Health in a report on Tuesday, August 27th. Finally, Citigroup lowered their price target on shares of Evolent Health from $33.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Evolent Health presently has a consensus rating of "Buy" and an average price target of $26.18.

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.