Franklin Resources Inc. Boosts Stock Position in Evolent Health, Inc. (NYSE:EVH)

Franklin Resources Inc. boosted its holdings in Evolent Health, Inc. (NYSE:EVH - Free Report) by 40.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 909,776 shares of the technology company's stock after buying an additional 263,815 shares during the quarter. Franklin Resources Inc. owned approximately 0.78% of Evolent Health worth $24,682,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Evolent Health by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company's stock valued at $356,200,000 after acquiring an additional 1,426,747 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Evolent Health by 1,948.5% during the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company's stock worth $42,289,000 after purchasing an additional 1,422,385 shares during the period. William Blair Investment Management LLC grew its position in Evolent Health by 35.2% in the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company's stock valued at $96,098,000 after buying an additional 1,308,376 shares during the last quarter. First Light Asset Management LLC increased 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 buying an additional 1,157,124 shares during the period. Finally, Bellevue Group AG raised its position in Evolent Health by 59.9% during the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company's stock worth $75,509,000 after buying an additional 1,000,215 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on EVH shares. BTIG Research dropped their price target on shares of Evolent Health from $36.00 to $29.00 and set a "buy" rating on the stock in a research note on Tuesday, December 3rd. KeyCorp began coverage on Evolent Health in a research report on Friday, October 11th. They set an "overweight" rating and a $35.00 target price on the stock. Citigroup decreased 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $20.00 price objective on shares of Evolent Health in a research report on Tuesday, November 12th. Finally, Barclays reduced their target price on Evolent Health from $39.00 to $19.00 and set an "overweight" rating for the company in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $26.18.

Evolent Health Price Performance

NYSE EVH traded up $0.23 during trading hours on Friday, reaching $11.41. The company's stock had a trading volume of 3,134,905 shares, compared to its average volume of 1,868,250. 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 50-day moving average is $16.97 and its two-hundred day moving average is $22.23. Evolent Health, Inc. has a fifty-two week low of $10.53 and a fifty-two week high of $35.00. The stock has a market cap of $1.33 billion, a PE ratio of -12.54 and a beta of 1.45.

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.