Evolent Health, Inc. (NYSE:EVH) Shares Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its position in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) by 1,948.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,495,385 shares of the technology company's stock after acquiring an additional 1,422,385 shares during the period. Point72 Asset Management L.P. owned approximately 1.29% of Evolent Health worth $42,289,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC boosted its position in shares of 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 worth $96,098,000 after buying an additional 1,308,376 shares during the period. Engaged Capital LLC boosted its position in shares of Evolent Health by 26.1% in the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company's stock worth $78,611,000 after buying an additional 850,000 shares during the period. Eventide Asset Management LLC boosted its position in shares of Evolent Health by 1.7% in the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company's stock worth $107,580,000 after buying an additional 64,985 shares during the period. Bellevue Group AG boosted its position in shares of Evolent Health by 59.9% in the third 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 period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Evolent Health by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company's stock worth $45,286,000 after buying an additional 121,770 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Evolent Health from $45.00 to $15.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. Oppenheimer cut their price target 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. Stephens cut 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 research note on Friday, November 8th. JMP Securities cut their price target on Evolent Health from $34.00 to $31.00 and set a "market outperform" rating on the stock in a research note on Friday, August 9th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $20.00 price target on shares of Evolent Health in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $26.18.

Evolent Health Stock Down 2.1 %

NYSE EVH traded down $0.24 on Thursday, hitting $11.27. 2,345,173 shares of the stock traded hands, compared to its average volume of 1,825,950. The stock has a 50-day moving average of $20.44 and a 200 day moving average of $23.10. Evolent Health, Inc. has a twelve month low of $11.10 and a twelve month high of $35.00. The company has a market capitalization of $1.31 billion, a P/E ratio of -12.66 and a beta of 1.45. 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 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.