Geode Capital Management LLC Decreases Position in Evolent Health, Inc. (NYSE:EVH)

Geode Capital Management LLC trimmed its holdings in Evolent Health, Inc. (NYSE:EVH - Free Report) by 3.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,520,818 shares of the technology company's stock after selling 80,757 shares during the period. Geode Capital Management LLC owned 2.17% of Evolent Health worth $71,303,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in EVH. Quarry LP acquired a new stake in shares of Evolent Health in the second quarter valued at $32,000. Covestor Ltd increased its stake in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company's stock worth $40,000 after buying an additional 826 shares during the period. GAMMA Investing LLC increased its position in shares of Evolent Health by 5,365.5% during the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company's stock worth $45,000 after acquiring an additional 1,556 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Evolent Health during the second quarter worth $61,000. Finally, Quest Partners LLC purchased a new stake in Evolent Health during the 2nd quarter worth about $87,000.

Evolent Health Price Performance

Shares of EVH traded up $0.23 during mid-day trading on Friday, hitting $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 current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health, Inc. has a 1-year low of $10.53 and a 1-year high of $35.00. The firm has a market capitalization of $1.33 billion, a P/E ratio of -12.54 and a beta of 1.45. The firm has a 50-day simple moving average of $16.97 and a 200 day simple moving average of $22.23.

Wall Street Analysts Forecast Growth

EVH has been the subject of several analyst reports. Barclays lowered their price target on shares of Evolent Health from $39.00 to $19.00 and set an "overweight" rating for the company in a report on Monday, November 11th. KeyCorp began coverage on shares of Evolent Health in a report on Friday, October 11th. They set an "overweight" rating and a $35.00 price objective on the stock. Citigroup dropped their target price on shares of Evolent Health from $33.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, November 13th. Oppenheimer reduced their price target on shares of Evolent Health from $34.00 to $28.00 and set an "outperform" rating for the company in a research report on Monday, November 18th. Finally, Stephens cut Evolent Health from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $38.00 to $16.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Evolent Health presently has an average rating of "Buy" and an average price target of $26.18.

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.