Eagle Asset Management Inc. lifted its stake in shares of Evolent Health Inc (NYSE:EVH) by 62.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,002,480 shares of the technology company’s stock after purchasing an additional 1,149,789 shares during the quarter. Eagle Asset Management Inc. owned about 3.55% of Evolent Health worth $21,587,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in EVH. Aperio Group LLC purchased a new position in Evolent Health in the second quarter worth $40,000. ETRADE Capital Management LLC acquired a new stake in shares of Evolent Health during the second quarter valued at $80,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Evolent Health by 94.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 12,061 shares of the technology company’s stock valued at $95,000 after acquiring an additional 5,856 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in shares of Evolent Health by 38.4% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 15,500 shares of the technology company’s stock valued at $123,000 after acquiring an additional 4,300 shares during the last quarter. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of Evolent Health during the second quarter valued at $125,000. Hedge funds and other institutional investors own 95.15% of the company’s stock.
A number of analysts recently commented on EVH shares. ValuEngine raised Evolent Health from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Oppenheimer set a $15.00 price objective on Evolent Health and gave the company a “buy” rating in a research note on Wednesday, August 7th. Cowen set a $18.00 price target on Evolent Health and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald set a $16.00 price target on Evolent Health and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Piper Jaffray Companies raised their price target on Evolent Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $15.75.
NYSE:EVH traded up $0.79 during mid-day trading on Friday, reaching $10.12. The company’s stock had a trading volume of 1,848,188 shares, compared to its average volume of 1,365,906. The company’s fifty day simple moving average is $7.62 and its two-hundred day simple moving average is $8.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.39 and a quick ratio of 1.39. Evolent Health Inc has a twelve month low of $5.50 and a twelve month high of $26.96. The stock has a market cap of $676.14 million, a P/E ratio of -28.91 and a beta of 1.07.
Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. Evolent Health had a negative return on equity of 6.87% and a negative net margin of 15.02%. The firm had revenue of $220.14 million for the quarter, compared to analyst estimates of $217.90 million. During the same period last year, the company earned ($0.04) EPS. The firm’s quarterly revenue was up 46.8% on a year-over-year basis. Sell-side analysts expect that Evolent Health Inc will post -0.96 EPS for the current fiscal year.
In other news, Director Kenneth A. Samet acquired 7,200 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $7.04 per share, for a total transaction of $50,688.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Doug S. Aron acquired 10,550 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of $8.20 per share, for a total transaction of $86,510.00. 4.50% of the stock is currently owned by company insiders.
Evolent Health Profile
Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.
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