Edgestream Partners L.P. Invests $2.59 Million in Evolent Health, Inc $EVH

Edgestream Partners L.P. bought a new stake in Evolent Health, Inc (NYSE:EVH) during the second quarter, HoldingsChannel.com reports. The fund bought 229,781 shares of the technology company’s stock, valued at approximately $2,587,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its holdings in Evolent Health by 88.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after purchasing an additional 1,194 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Evolent Health by 82.6% in the second quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock worth $39,000 after buying an additional 1,577 shares during the period. Strs Ohio acquired a new stake in shares of Evolent Health in the first quarter valued at about $47,000. US Bancorp DE raised its holdings in shares of Evolent Health by 291.0% during the 1st quarter. US Bancorp DE now owns 5,153 shares of the technology company’s stock valued at $49,000 after buying an additional 3,835 shares during the period. Finally, Cetera Trust Company N.A raised its holdings in shares of Evolent Health by 47.3% during the 2nd quarter. Cetera Trust Company N.A now owns 9,725 shares of the technology company’s stock valued at $110,000 after buying an additional 3,125 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial lowered their price objective on shares of Evolent Health from $16.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Oppenheimer decreased their target price on shares of Evolent Health from $18.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, November 12th. BMO Capital Markets began coverage on shares of Evolent Health in a report on Thursday, November 13th. They set an “outperform” rating and a $7.00 price target for the company. Canaccord Genuity Group cut their price objective on shares of Evolent Health from $16.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Finally, Citizens Jmp lowered their target price on Evolent Health from $13.00 to $11.00 and set a “market outperform” rating for the company in a research note on Monday, November 10th. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Evolent Health presently has an average rating of “Moderate Buy” and a consensus target price of $11.04.

Evolent Health Stock Up 2.2%

Shares of NYSE:EVH opened at $4.00 on Friday. The firm has a market cap of $445.84 million, a PE ratio of -2.53 and a beta of 0.28. The company has a fifty day simple moving average of $6.27 and a 200 day simple moving average of $8.33. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.25. Evolent Health, Inc has a 12-month low of $3.49 and a 12-month high of $12.98.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.21 earnings per share for the quarter. The company had revenue of $427.70 million during the quarter. Evolent Health had a negative net margin of 6.24% and a positive return on equity of 1.79%. On average, equities research analysts anticipate that Evolent Health, Inc will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Brendan B. Springstubb acquired 10,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were purchased at an average price of $3.82 per share, for a total transaction of $38,200.00. Following the completion of the purchase, the director directly owned 58,821 shares of the company’s stock, valued at $224,696.22. This represents a 20.48% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by corporate 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.