William Blair Investment Management LLC Decreases Position in Evolent Health, Inc. (NYSE:EVH)

William Blair Investment Management LLC lowered its stake in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,781,131 shares of the technology company's stock after selling 158,175 shares during the period. William Blair Investment Management LLC owned 4.10% of Evolent Health worth $53,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royce & Associates LP purchased a new stake in shares of Evolent Health during the 3rd quarter worth $7,070,000. Foundry Partners LLC purchased a new stake in shares of Evolent Health during the third quarter valued at about $10,042,000. Salem Investment Counselors Inc. boosted its holdings in shares of Evolent Health by 53.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company's stock valued at $3,939,000 after buying an additional 121,369 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Evolent Health by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company's stock worth $1,469,000 after buying an additional 8,552 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Evolent Health by 90.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company's stock worth $9,036,000 after buying an additional 380,790 shares during the last quarter.

Evolent Health Stock Performance

Shares of NYSE:EVH traded down $0.35 during midday trading on Friday, reaching $9.61. The company's stock had a trading volume of 1,990,183 shares, compared to its average volume of 2,584,239. The firm has a market capitalization of $1.12 billion, a PE ratio of -11.72 and a beta of 1.49. The stock has a fifty day moving average of $9.99 and a 200 day moving average of $16.42. Evolent Health, Inc. has a twelve month low of $8.35 and a twelve month high of $33.63. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Remove Ads

Evolent Health (NYSE:EVH - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The company had revenue of $646.54 million for the quarter, compared to analysts' expectations of $650.92 million. On average, equities analysts expect that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EVH has been the subject of several recent analyst reports. UBS Group lowered their target price on shares of Evolent Health from $27.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Truist Financial dropped their target price on Evolent Health from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price target on shares of Evolent Health in a research note on Friday, February 21st. BTIG Research dropped their price target on Evolent Health from $36.00 to $29.00 and set a "buy" rating on the stock in a research note on Tuesday, December 3rd. Finally, Oppenheimer cut their price objective on shares of Evolent Health from $28.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $17.71.

Insider Transactions at Evolent Health

In other Evolent Health news, Director Diane Holder bought 2,735 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were purchased at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the transaction, the director now directly owns 70,584 shares of the company's stock, valued at approximately $658,548.72. The trade was a 4.03 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Seth Blackley purchased 55,225 shares of Evolent Health stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $9.01 per share, with a total value of $497,577.25. Following the acquisition, the chief executive officer now directly owns 762,217 shares in the company, valued at $6,867,575.17. This trade represents a 7.81 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 74,000 shares of company stock valued at $666,315 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

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.