Salem Investment Counselors Inc. raised its holdings in shares of Evolent Health Inc (NYSE:EVH) by 280.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,705 shares of the technology company’s stock after acquiring an additional 116,975 shares during the quarter. Salem Investment Counselors Inc. owned about 0.23% of Evolent Health worth $2,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of EVH. FMR LLC raised its holdings in Evolent Health by 117.7% during the 2nd quarter. FMR LLC now owns 9,864,775 shares of the technology company’s stock valued at $250,073,000 after acquiring an additional 5,333,252 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Evolent Health by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,465,019 shares of the technology company’s stock worth $136,236,000 after acquiring an additional 2,026,893 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Evolent Health by 48.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,769,869 shares of the technology company’s stock worth $95,566,000 after acquiring an additional 1,237,941 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Evolent Health during the 2nd quarter worth $27,577,000. Finally, Kornitzer Capital Management Inc. KS purchased a new position in shares of Evolent Health during the 3rd quarter worth $14,258,000. 95.38% of the stock is currently owned by institutional investors and hedge funds.
Evolent Health Inc (EVH) remained flat at $$13.00 during trading on Thursday. The stock had a trading volume of 1,548,000 shares, compared to its average volume of 1,267,940. Evolent Health Inc has a 52-week low of $10.30 and a 52-week high of $27.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.34 and a current ratio of 3.34.
Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. The firm had revenue of $107.90 million during the quarter, compared to analysts’ expectations of $104.49 million. Evolent Health had a negative net margin of 15.86% and a negative return on equity of 5.05%. Evolent Health’s revenue was up 79.2% compared to the same quarter last year. During the same period last year, the business earned ($0.26) earnings per share. analysts predict that Evolent Health Inc will post -0.57 EPS for the current year.
Several research analysts recently commented on the stock. Zacks Investment Research lowered shares of Evolent Health from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Cowen restated an “outperform” rating and set a $29.00 price objective (down from $33.00) on shares of Evolent Health in a research report on Friday, October 6th. Canaccord Genuity restated a “buy” rating and set a $32.00 price objective on shares of Evolent Health in a research report on Friday, October 6th. Jefferies Group restated a “buy” rating and set a $28.00 price objective on shares of Evolent Health in a research report on Wednesday, September 6th. Finally, Leerink Swann set a $32.00 price objective on shares of Evolent Health and gave the stock a “buy” rating in a research report on Friday, August 18th. Two analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $28.00.
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Evolent Health Company Profile
Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.
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